• Crypto Lists
  • Bitcoin
  • Blockchain
  • Cryptocurrency
  • Altcoin
  • Advertise With Us
  • Join our Telegram Community
Newsletter
ItsBlockchain
  • Blockchain
  • Bitcoin
    crypto traders 2021

    Top 5 Crypto traders to follow on Twitter in 2021

    featured image

    Everything you need to know about Bitcoin IRA

    featured image

    How Bitcoin can be hacked?

    featured

    A starter guide to Bitcoin Options trading

    Featured Image

    With Bitcoin Mining Capitulation Coming to an End, Will Halving Pump Begin?

    featured image

    Technical Indicators suggests Bitcoin can crash to 7000$ in next few days

    featured image

    Why is Bitcoin a safe haven in a financial crisis

    featured image

    How to Make Money in Crypto When It Falls

    featured image

    Despite Resurrection of Old Bitcoiners, HODL Waves Indicate Bullish Accumulation

    Trending Tags

    • Altcoin
    • Crypto Lists
    • News
      bitcoin laser eyes

      Bitcoin Laser Eyes, What is it all about?

      Bitcoin Market’s Sentiments turned bullish after USA President’s recent press conference

      Bitcoin Market’s Sentiments turned bullish after USA President’s recent press conference

      featured image

      Breaking : Crypto Trading is now legal in South Korea

      RBI to allow crypto trading

      Supreme court of India decided to lift off RBI Banking BAN against Bitcoin

      featured image

      Steemit Joining TRON Ecosystem

      Reliance Jiocoin

      Reliance Jio is preparing for Jio Coin launch in 2020

      A $134 Million real estate has sold on ethereum blockchain

      A $134 Million real estate has sold on ethereum blockchain

      Hacking attacks on cryptocurrency exchanges

      Hacking Attacks on Cryptocurrency Exchanges are rising, Why?

      Bithumb Launches in India

      Bithumb Global Launches in India

    • Crypto Market
    • Guide
    • DEFI
    No Result
    View All Result
    • Blockchain
    • Bitcoin
      crypto traders 2021

      Top 5 Crypto traders to follow on Twitter in 2021

      featured image

      Everything you need to know about Bitcoin IRA

      featured image

      How Bitcoin can be hacked?

      featured

      A starter guide to Bitcoin Options trading

      Featured Image

      With Bitcoin Mining Capitulation Coming to an End, Will Halving Pump Begin?

      featured image

      Technical Indicators suggests Bitcoin can crash to 7000$ in next few days

      featured image

      Why is Bitcoin a safe haven in a financial crisis

      featured image

      How to Make Money in Crypto When It Falls

      featured image

      Despite Resurrection of Old Bitcoiners, HODL Waves Indicate Bullish Accumulation

      Trending Tags

      • Altcoin
      • Crypto Lists
      • News
        bitcoin laser eyes

        Bitcoin Laser Eyes, What is it all about?

        Bitcoin Market’s Sentiments turned bullish after USA President’s recent press conference

        Bitcoin Market’s Sentiments turned bullish after USA President’s recent press conference

        featured image

        Breaking : Crypto Trading is now legal in South Korea

        RBI to allow crypto trading

        Supreme court of India decided to lift off RBI Banking BAN against Bitcoin

        featured image

        Steemit Joining TRON Ecosystem

        Reliance Jiocoin

        Reliance Jio is preparing for Jio Coin launch in 2020

        A $134 Million real estate has sold on ethereum blockchain

        A $134 Million real estate has sold on ethereum blockchain

        Hacking attacks on cryptocurrency exchanges

        Hacking Attacks on Cryptocurrency Exchanges are rising, Why?

        Bithumb Launches in India

        Bithumb Global Launches in India

      • Crypto Market
      • Guide
      • DEFI
      No Result
      View All Result
      ItsBlockchain
      No Result
      View All Result
      Home bitcoin

      Bitcoin has Seen a Major Boost Amid Dollar Crisis

      Hitesh Malviya by Hitesh Malviya
      April 4, 2020
      in bitcoin, Crypto Market
      0 0
      0
      featured image
      1
      SHARES
      720
      VIEWS
      Share on FacebookShare on Twitter

      The $2 trillion USD Covid-19 stimulus package was approved by President Donald Trump last week. Traditional markets, as well as Bitcoin and crypto, have already seen an upturn, with assets climbing in anticipation of this historic economic aid package. Now, Bitcoin has seen a major boost amid the dollar crisis – here’s what we have to look forward to. 

      Bitcoin climbs amid surge of interest

      The Bitcoin price, which has sat at lows of around $4,000, has climbed back up to around $6,000 over the last two weeks. Still, it remains incredibly volatile, falling from approx. $7,000 last week. Still, the crypto community is all but convinced that the $2 trillion rescue package will bring about a boom in interest in Bitcoin and altcoins. 

      The full details of the Covid-19 stimulus relief package haven’t been released yet, but some early drafts reportedly include proposals for a “digital dollar.” $350 billion is expected to go towards supported small businesses, $250 billion towards unemployment insurance, and $500 billion to loans for companies in distress. 

      Lawmakers have shown that an initial proposal by Republicans for cash payments, of $250 billion, has been included in the relief package. 

      Larry Kudlow, a chief economic advisor to Trump, said, “This legislation is urgently needed to bolster the economy, provide cash injections and liquidity and stabilize financial markets to get us through a difficult and challenging period in the economy facing us right now,” before adding that this is, “the single largest main street assistance program in the history of the United States.”

      Bitcoin fans say US Gov is pumping Bitcoin 

      Meanwhile, the Bitcoin and crypto community could hardly contain their delight at the idea of the US government pumping trillions of dollars into the economy. 

      “The Fed’s $6 trillion stimulus plan would be enough to buy the entire market cap of Bitcoin more than 48 times,” tweeted Anthony Pompliano, a respected Bitcoin analyst. 

      The Fed's $6 trillion stimulus plan would be enough to buy the entire market cap of Bitcoin more than 48 times.

      — Pomp 🌪 (@APompliano) March 24, 2020

      Luke Dash, a blockchain consultant and Bitcoin developer, tweeted, “[They’re] pumping Bitcoin.” 

      “It’s time to move your fiat into [Bitcoin]. There is no way your dollars can keep their value after pumping $6 trillion into the system,” tweeted Jason Yanowitz, co-founder of BlockWorks, a crypto and blockchain events and media company. 

      “If there was ever a time—debasement of fiat currencies, monetization of trillions of dollars of debt, this is the time for Bitcoin,” crypto investor and chief executive of Galaxy Digital, Mike Novogratz, told CNBC.  He continued, “If at the end of the year Bitcoin’s not a lot higher, I’m going to scratch my head and say, ‘Look, what the heck is going on?'”

      Basically, the bulls were out. 

      Still, they have a point. Bitcoin has seen a major boost amid the dollar crisis, and a further devaluation of the dollar could very well see investors jumping ship for the holy land of cryptoassets. Already, we’ve seen how stock investors have moved some of their assets to Bitcoin, which has been acting as a bit of a safe haven during the Covid-19 induced stock market tumble. 

      Interested in starting to trade Bitcoin amid this crisis? Check out eToro, the world’s leading social trading platform. 

      Bitcoin will boom, but what’s to come? 

      Yes, Bitcoin has seen a major boost amid the dollar crisis, but what’s going to happen with the USD? Until we get the full details of the economic relief package, the extent of the effects on the dollar will remain unknown. Still, it’s certain to be huge – and could potentially drive investors into putting their money into alternative assets, like Bitcoin. 

      IBC-Transparent-Logo-(1)

      Subscribe To Our Newsletter

      Join our mailing list to receive Cryptocurrency investing and trading recommendations to your mailbox.

      You have Successfully Subscribed!

      Tags: bitcoin fundamentalsfeatured
      ShareTweetPin1

      Subscribe to get notified on latest posts.

      Unsubscribe

      Related Posts

      A simple guide to understanding FTX Bull and Bear tokens

      A simple guide to understanding FTX Bull and Bear tokens

      by Nivesh Rustgi
      February 24, 2021
      0

      FTX bull and bear are ERC20 tokens which gives 3x returns on the change in price of the underlying assets....

      non fungible token

      Non-fungible Token(NFT): The Next Big Thing in Crypto Market

      by Guest Author
      February 18, 2021
      0

      NFTs are the latest trend in the crypto sphere. After the huge success of DEFI, investors are betting on NFT...

      crypto traders 2021

      Top 5 Crypto traders to follow on Twitter in 2021

      by Hitesh Malviya
      February 19, 2021
      0

      Top 5 Crypto Traders to follow on twitter Twitter is a good place to seek free crypto trading advice but...

      cryptomarket2021

      What will happen in the crypto market in spring 2021?

      by Guest Author
      February 13, 2021
      0

      What will happen in the crypto market in spring 2021? The new 2021 has begun with an inspiring surge of...

      featured image

      Everything you need to know about Bitcoin IRA

      by Nivesh Rustgi
      February 12, 2021
      0

      In this article, We will discuss Bitcoin IRAs, Laws and regulations, Service providers and future of bitcoin IRAs. The tax...

      Load More

      About Us

      We share important articles on blockchain technology here. Our mission is to spread the awareness about blockchain technology to masses through content.

      • Trending
      • Comments
      • Latest
      Top 10 Cheap Cryptocurrencies with Huge Potential in 2021 | Best Penny Crypto Coins

      Top 10 Cheap Cryptocurrencies with Huge Potential in 2021 | Best Penny Crypto Coins

      February 22, 2021
      Top 10 Altcoins to buy on Uniswap – Part 1

      Top 10 Altcoins to buy on Uniswap – Part 1

      February 21, 2021
      non fungible token

      Non-fungible Token(NFT): The Next Big Thing in Crypto Market

      February 18, 2021
      featured image

      Top 10 Low market cap altcoins to invest in 2021

      February 24, 2021
      crypto traders 2021

      Top 5 Crypto traders to follow on Twitter in 2021

      February 19, 2021
      TOP TEN altcoins to buy in february 2021

      Top Ten Altcoins You Should Buy in February 2021 – Part 2

      February 9, 2021
      bitcoin laser eyes

      Bitcoin Laser Eyes, What is it all about?

      February 20, 2021
      defi categories

      Top 5 Defi Categories to watch out for in this Altcoin Season

      February 25, 2021
      A simple guide to understanding FTX Bull and Bear tokens

      A simple guide to understanding FTX Bull and Bear tokens

      February 24, 2021
      featured image

      Top 10 Low market cap altcoins to invest in 2021

      February 24, 2021
      featured image

      Top 10 Blockchain companies in the world

      February 22, 2021
      Handle crypto Trading Losses

      How to Handle Trading Losses

      February 21, 2021
      bitcoin laser eyes

      Bitcoin Laser Eyes, What is it all about?

      February 20, 2021
      Cofounders of Ethereum : The mystery revealed now

      Cofounders of Ethereum : The mystery revealed now

      February 20, 2021
      • Top 10 Cheap Cryptocurrencies with Huge Potential in 2021 | Best Penny Crypto Coins

        Top 10 Cheap Cryptocurrencies with Huge Potential in 2021 | Best Penny Crypto Coins

        0 shares
        Share 0 Tweet 0
      • Top Ten Altcoins You Should Buy in February 2021 – Part 1

        0 shares
        Share 0 Tweet 0
      • Top Ten Altcoins You Should Buy in February 2021 – Part 2

        0 shares
        Share 0 Tweet 0
      • List of leading partners of Ripple, and How they use XRP?

        137 shares
        Share 137 Tweet 0
      • Top 10 Low market cap altcoins to invest in 2021

        20 shares
        Share 20 Tweet 0

      cointraffic

      ItsBlockchain

      We are India’s first and oldest Blockchain & Cryptocurrency publication platform started in 2016. We are a one-stop destination for technical analysis, cryptocurrency recommendations, and Blockchain technology resources.

      Buying Guides

      • Buy Bitcoins in India
      • Buy Bitcoins in China
      • Buy bitcoins in Russia
      • Buy Bitcoins in Japan
      • Buy Bitcoins in Turkey

      Important Links

      • Home
      • About US
      • Privacy Policy
      • Promote Your ICO
      • Submit post

      Follow Us

      Contact us

      support@itsblockchain.com

      © 2020 itsblockchain.com - Designed and maintained by Fanatic Coders

      No Result
      View All Result
      • About US
      • DEFI
      • Home
      • Newsletter
      • Privacy Policy
      • Promote Your ICO
      • Submit post

      © 2020 itsblockchain.com - Designed and maintained by Fanatic Coders

      Login to your account below

      Forgotten Password?

      Fill the forms bellow to register

      All fields are required. Log In

      Retrieve your password

      Please enter your username or email address to reset your password.

      Log In
      This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.