In the article Mnuchin confirms plan for $1,000 cash payments to all Americans, a proposed 1 trillion dollar package deal promising each American a minimum of $1,000 cash payout and as much as $3,000 for parents.
If this happens you can imagine what all the crypto investors will do! I believe Bitcoin will explode after a brief drop. I believe there will be a brief drop to the instability of the US dollar after such a large amount of money is put into population, and how that will affect stocks and the global exchange market remains to be seen.
I really couldn't complain about $1,000, could you? It might be the only thing Trump ever does right while in office, if it actually happens. He's known to lie. I've actually had to update a research paper while writing it because he contradicted himself in the news from a statement made years prior already in the paper. So, I am hopeful but also not a fool; he wants votes!
During such testing and unprecedented times I cannot help but think "Well, if we recover the market will recover. If we don't recover, what does the market status matter?"
So, I am making several investments now including Bitcoin, BAT, XLM, Tezos, and some stocks on Robinhood which is an awesome app (Handles some primary crypto AND stocks). Love the free stock for sign up as well. While it's a mobile app I run it fine in Bluestacks and find it to be one of my favorite ways to watch the BTC market live in a graph and the no fees is great, take a look:
Anyway, the instability caused by the uncertainty of further Coronavirus-related hits to the economy creates an interesting dynamic for investors. I feel the logical thing is to buy low and sell high as it's a method as old as time. Crash = Buy. Rise = Sell. Repeat.
One thing I'm interested to observe is any altcoins that prevail IF BTC/USD suffer. Assuming any of them don't correlate, anyway - Bitcoin has been leading the show as per usual lately, but I am convinced an altcoin will step up after this crisis comes to a calm.
I hope everyone is practicing healthy behaviors and staying safe while making bank :) I'm currently waiting for a drop in crypto and stocks to make my final investments. I hope the shock to USD isn't too terrible if this does happen, but I still hope it happens!
I am buying stock in General Motors Company (Chevrolet and etc) as I've had nothing but bad experiences with my new Ford and can tell you it's as Chinese as a Honda under the hood despite the made in the USA stamp. The margins for profit are massive in stocks right now and I may even move some of my money out of crypto because I like the look of these dividends!
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