Bitcoin has been excited for several days. After starting at $ 9,200 last week, the asset is currently trading at $ 10,298 as of writing the news.
A U.S. incentive package, released on Monday, could change the fate of Bitcoin. As a result, it was stated that the previous incentive package has been behind the great recovery in financial markets since March. Bitcoin could gain more power in the coming days, as U.S. Treasury Secretary Steven Mnuchin stated that the next incentive package will be available on Monday.
CORONAVIRUS PHASE 4 STIMULUS PACKAGE WILL BE INTRODUCED ON MONDAY: MNUCHIN#BreakingNews
— First Squawk (@FirstSquawk) July 26, 2020
New Incentive Package Can Help Bitcoin Rally
Due to the rise in unemployment and other measures expiring in the USA, the country where the epidemic is most affected, there has recently been a debate about offering more incentive packages. As a result, as the economy collapsed, dozens of millions of unemployed remained.
According to First Squawk, a four-stage incentive package for the pandemic will be introduced Monday. The planned package will total $ 1 trillion and will include $ 1200 incentive packages.
Giving more incentive packages will also be beneficial for Bitcoin. In a world where fiat money is massively printed by central banks, the limited supply of BTC makes it stand out, and everyone from Bitcoin supporters to Wall Street experts says it.