Latest news about Bitcoin and all cryptocurrencies. Your daily crypto news habit.
Americans will soon receive their stimulus checks to help fuel the domestic economy. How much of that money will be spent on buying Bitcoin or other cryptocurrencies, will be rather interesting to observe.
Coronavirus stimulus checks are being sent out to citizens of the United States.
Coronavirus Stimulus Checks are Coming
Every citizen will receive roughly $1,200 in âextra moneyâ thanks to the government and Federal Reserve.
Since the coronavirus crisis began, a lot of people have been struggling to make ends meet.
How much difference these stimulus checks can make, remains a matter of debate of speculation.
Recipients are free to spend this money however they see fit.
Many Bitcoin enthusiasts expect a lot of the money to flow into cryptocurrencies over the coming weeks.
If that is the case, the coronavirus will be a catalyst for broader Bitcoin adoption after all.
Injecting this $2 trillion into the US economy should have a positive effect for the country during the coronavirus crisis
That being said, the stock markets are still very volatile, as more money flows to alternative investment options.
For now, Bitcoin and gold have proven to be far more appealing compared to stocks, treasuries, and bonds.
That said, the Bitcoin halving is just around the corner, which may lead to even more price volatility during Q2 of 2020.
The post Coronavirus Stimulus Checks may Give Bitcoin a Price Boost appeared first on The Merkle News.
Disclaimer
The views and opinions expressed in this article are solely those of the authors and do not reflect the views of Bitcoin Insider. Every investment and trading move involves risk - this is especially true for cryptocurrencies given their volatility. We strongly advise our readers to conduct their own research when making a decision.