Old season and $30,000 possible by the end of the year: 5 important things to know about bitcoin
Hodler got a nice present for Christmas with Bitcoin’s new all-time highs. But it is now also coming into the crosshairs of regulators.
Bitcoin (BTC) has had a week like no other. It hit new all-time highs of US$28,400 and is holding very high. What’s next?
Gold rises on Trump’s signing of stimulus package
Markets were spared a nightmare this week after US President Donald Trump agreed to sign off on Congress‘ $900 billion stimulus package.
The package makes the US central bank’s debt mountain even bigger and includes various benefits for companies. For American citizens, however, the direct financial aid is less than in March.
Trump said he could not agree to the second package because Corona Millionaire of the small amount of direct payments (600 US dollars instead of 1,200 US dollars), but later changed his mind.
The markets thus started the new week on a positive note. The S&P 500 futures were able to record slight gains before the opening on Wall Street.
At the same time, the price of gold has also grown. Data shows that the precious metal could now post its biggest annual gain in a decade.
„President @realDonaldTrump vetoed only nine bills. That’s the fewest number since Warren Harding, who was in office for only two years, from 1921 to 1923,“ as gold supporter and notorious bitcoin critic Peter Schiff tweeted when the bill was signed into law.
„Since Chester Arthur (1881 to 1885), no president who has served a full term has vetoed fewer bills. You can’t drain the swamp by making it deeper.“
Regulations expected for bitcoin
After becoming popular with a wider audience over Christmas and reaching new highs, Bitcoin could soon run afoul of governments, sources warn.
With a new all-time high of US$28,400 and a monthly increase of 55 per cent, Bitcoin is now on the radar of regulators as its mass appeal grows. Even for its proponents, the next year could be a challenging time.
After still-Treasury Secretary Steven Mnuchin tried to force new laws on non-custodial wallets, his successor Janet Yellen is unlikely to do any better, they say.