Bitcoin Price Chart Shows Bull Fatigue as Analyst Sees ‘Rising Wedge’ – Yahoo Finance

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Bitcoin Could Boom 430% but Ethereum May Still Steal its Thunder

Bitcoin believers may have new reason to rejoice following the stimulus checks, but Ethereum has use cases on its side. U.S. President Joe Biden’s $1.9 trillion COVID Relief Bill has passed congress and stimulus checks are soon to be distributed. Early signs indicate recipients are ready to buy Bitcoin. A survey by Mizuho Securities showed that out of 235 participants who expect to receive stimulus checks from the COVID Relief Bill, 10% are interested in investing in Bitcoin. It’s a small sample size, but according to the survey investing in Bitcoin was a more popular response than investing in traditional stocks. If that kind of runaway popularity doesn’t move you in itself, consider that it could translate into $40 billion dollars running like a river directly from Biden’s $1.9 trillion stimulus package into Bitcoin. In the same week, Bank of America strategists suggested to Bloomberg that the price of BTC can be moved 1% for just $93 million. Bank of America strategists said in a note to Bloomberg on Wednesday: “Bitcoin is extremely sensitive to increased dollar demand. We estimate a net inflow into Bitcoin of just $93 million would result in price appreciation of 1%, while the similar figure for gold would be closer to $2 billion or
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