The price of Bitcoin climbed 5% shortly after the US Congress passed an additional $908 billion bill for the coronavirus stimulus on the 22nd of December. Currently, BTC is up 1.70% to $23,367.36. Bitcoin trading volume in the last 24 hours stands at $42,857,371,130.
In reaction to the announcement of the $908 billion second stimulus package, Gemini CEO and co-founder Tyler Winklevoss said in a tweet:
“Another $900 billion dollar advertisement for Bitcoin.”
Notably, Bitcoin reached a new all-time high of $24,000 on the 19th. As several analysts predict that the top crypto asset by market value would continue to surge, others also foresee a fall in BTC’s price. According to Cointelegraph Markets analyst, Michael Van de Poppe said that BTC may drop below $20,000. In a video posted on the 21st of December, he said:
“People are focused on $19,500 for now, and I think this is a very critical level to watch, but I would not be surprised if we dip below $19,500 towards $18,500 to liquidate all the people that have taken longs at that range.”
Furthermore, MicroStrategy CEO Michael Saylor noted that he was not the push behind the rise in BTC. Recently, Saylor said on the Funky Crypto Podcast that the “other guys” were responsible for the significant increase in the leading digital asset.
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