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Bitcoin Rallies Following European Central Bank Announcement Hinting At New Stimulus Package
Summary: Bitcoin's price rallied 5% over four hours earlier today after the European Central Bank announced a new stimulus package may be passed in December. A new ECB stimulus package could place more pressure on the United States to push through a stimulus package which could increase demand for scarce assets like Bitcoin. At the time ...
Bitcoin's price rallied 5% over four hours earlier today after the European Central Bank announced a new stimulus package may be passed in December.
A new ECB stimulus package could place more pressure on the United States to push through a stimulus package which could increase demand for scarce assets like Bitcoin. At the time of writing Bitcoin is trading at $13,548 and is up 2.70%.
Recently Bitcoin has broken its correlation with the US equities market, rallying even as stocks fell after COVID-19 cases began spiking globally. Continued strong performance could drive more investors seeking a safe haven asset to Bitcoin.
By Emily Mason
Tags: Bitcoin,BTC,COVID-19,European Central Bank
Link: Bitcoin Rallies Following European Central Bank Announcement Hinting At New Stimulus Package [Copy]
