RATE Group | Stimulus Checks and Hedge Funds, Why Bitcoin (BTC) is headed to $8,000
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Stimulus Checks and Hedge Funds, Why Bitcoin (BTC) is headed to $8,000

19 Apr Stimulus Checks and Hedge Funds, Why Bitcoin (BTC) is headed to $8,000

Posted at 08:03h in Bitcoin News by

In brief:

  • Evidence points towards US citizens using there $1,200 stimulus checks to buy Bitcoin (BTC).
  • Grayscale Capital’s recent quarterly report provides a clue as to institutional interest in Bitcoin (BTC).
  • The King of Crypto is hovering around $7,200 and looks set to start a climb up to $8,000.

For the last 72 hours, Bitcoin (BTC) has been hovering above $7,000. It is attempting a move up that would guarantee bullish momentum and erase all the losses brought about by the Coronavirus crash of mid-March. The King of Crypto has since made several attempts to recapture $7,200 and is currently only a few points away from turning this area into a support zone.

Stimulus Checks and Hedge Funds Could Push Bitcoin (BTC) to $8,000

At the time of writing this, citizens of the United States have started receiving the eagerly awaited $1,200 stimulus checks aimed at cushioning them from the economic effects of the Coronavirus. Approximately 80 Million Americans…

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