Big announcements are coming up from the recent press conference of USA President Donald Trump and Corona virus task force team. Bitcoin and Stock market responded positively on announcements coming up from this conference.
Bitcoin price quickly bounced from 5100$, and currently trading above 5450$. Bitcoin saw 5% rise in last 30 mins.
S&P 500 Index also rose by 5% in past an hour in response to announcements.
Here is the summary of announcements which can impact the bitcoin market in next few weeks.
- Donald Trump said that they are taking aggressive action as ONE nation and ONE family to combat the coronavirus.
- Fed to Try to Ease Flow of Credit With New Lending Facility.
- Donanld Trump announced an expansion of Medicare tele-health services: Americans “can now visit any doctor by phone or video conference at no additional cost.”
- US Treasury Secretary Steve Mnuchin said Pres. Donald Trump wants to send checks to Americans in the “next two weeks” in an effort to curb the economic cost of the #COVID19 outbreak.
- Sen. Mitt Romney, a Utah Republican, floated a universal basic income-like stimulus of $1,000 a month during the outbreak.
Cryptocurrency community on twitter is bullish after these announcements.
Bitcoin Technical Analysis – 4H Chart
- Bitcoin is trading in an ascending channel, channel resistance is at 6200$.
- Bitcoin is trading above 21MA on 4H – which is bullish.
- Bitcoin can reach at least 6000$ from current level.
Hitesh Malviya is the Founder of ItsBlockchain. He is one of the most early adopters of blockchain & cryptocurrency enthusiast in India. After being into space for a few years, he started IBC in 2016 to help other early adopters learn about the technology.
Before IBC, Hitesh has founded 4 companies in the cyber security & IT space.
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