The markets are preparing for a big move. Could this be the beginning of the end or just another fake rally to sucker in all the would be US citizens that will be receiving their government cheese later week?
Its possible that this rally could be the end of the CV induced bear market. Bitcoin, along with all of the markets has been on an upward movement since the end of March. There is a clear correlation and might all be moving in sync to sucker in all the former investors that sold their positions due to being lay off from their jobs. Knowing that the $1200 in government stimulus is going to be issued this week that can very well be the case. We do not know yet how citizens will spend their stimulus but if the past is giving any clues it might very well be for food and bills. But I'm also going to factor in reality and greed and say most of that stimulus will be thrown into the markets. Any market for that fact.
I say this in pure speculation that people love to gamble. And responsibility seems to be thrown out the window when money is given for free. With many government officials convincing the public that the curve is flattening and less cases being reported in NY and CA, there are many people believing this quarantine will only last a few more weeks. This could drive the former investors to throw the stimulus into Bitcoin, cryptos and the stock market. With bitcoin giving more gains, I see Bitcoin and the cryptos as a clear winner as to which assets will receive the stimulus pump.
I see nothing but bullishness for bitcoin and the cryptos when free money is given, especially money that isn't going be taxed. With the Bitcoin halvening just around the corner, this just may very well be what bitcoin and the cryptos needs to achieve mass adoption!
*Not trading advice, Just my opinions!
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