US President Donald Trump announced the stimulus package for the US citizens in an attempt to support the economy affected by the Coronavirus outbreak. The economists are gazing in wonder about what Trump’s government is going to do.
$2 Trillion Stimulus Package by Fed
Today, the stock markets performed extraordinarily after the Fed proposed a stimulus package of $2 trillion. The initiative was taken by the Fed to build investors’ confidence in the stock markets. However, the current market scenario tells that the experiment becomes successful as financial markets exhibit strong bullish momentum.
Not only traditional assets are shining, but Bitcoin is also stable making its flight above the key figure of $6,500. According to a technical estimate, the next target of the leading will be at $7,000.
Zhao Aims Big for Bitcoin
White House decided on a relief package of 2$ trillion amid the COVID-19 outbreak. The CEO of Binance, Changpeng Zhao, predicted the market cap of $2 trillion for Bitcoin. According to him, this huge market cap will drive the price value to $100,000. This is not the first time he made big speculation for Bitcoin as he also predicted big figures for digital gold in the past.
Binance CEO said:
As we get used to talk about Trillions, a modest $2 trillion market cap of#bitcoin will put 1 BTC at $100,000. Not such a hard to imagine number now, right?
As most BTC are not for sell (HODLers), we only need a small portion of that $2t to buy to reach it
The leading digital asset also showed a great bullish move after the president of the Fed talked about the infinite cash in the banks. Further injection of $2 trillion dollars will support Bitcoin in proving its safe-haven status.
Zhao expects from the Bitcoin to reach $100,000 and encouraged the crypto community to hold cryptocurrency and put more capital into it from the stimulus proposal.
At press time, Bitcoin is trading at $6,560 without losing any bit in the past 24-hours.