Stimulus Package Approval & Institutional Purchase In Asia Signals New Bullish Wave With Bitcoin

The weekend saw Bitcoin climb back above $50K. Though the period wasn’t action-packed, two main developments signaled a new bullish wave. Americans could in the next few weeks receive stimulus checks of $1,400 with the bill passed during the weekend.

Additionally, having Bitcoin in company portfolios could be a trend catching on in Asia as a leading Chinese app developer announced it bought Bitcoin worth $22M over the weekend.

The approval of the $1.9 Trillion stimulus package by the U.S senate has been the major talking point. Following its approval on Saturday, experts expect President Biden could sign this into law as soon as the end of the week.

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