Currently, the $1,200 stimulus package has yielded me another $1,000+, Bitcoin is the ultimate, am in love, yeah!. More rumors about the second stimulus package by Biden(US President elect) underway, this will definitely bullish the Bitcoin and the entire cryptocurrencies, hope to see Biden(US President elect) executing this from the reserve.
If you have the ability to purchase bitcoin with the pandemic stimulus package more power to you as you are having a stable financial situation but that might not be the situation with the millions of people out there who lost their jobs and business during the pandemic. It would be foolish for me to think that the bitcoin market is increasing because of these stimulus rather than thinking that these investments are coming from corporate fund houses investing in bitcoin.
We never rely on these stimulus package from the government, the pandemic came to humanity unaware and meant us with the current situation of things including the unemployment. But, those with the little financial strength before the package arrived also squandered their stimulus package, how do you classify such?. My own friends ate theirs without thinking of investment, and as at today they're still stranded.
The government didn't give out thousands of dollars to the people so they could invest in in speculative assets, they gave money so that people could cover their basic necessities while they are unemployed during the covid pandemic. You can't really say that those who didn't buy Bitcoin made the wrong move, they had no other choice, and remember that Bitcoin could have just as easily fallen down instead of going up - bearish markets happen too.
Yeah, bitcoin could have gone bearish, but with the handwritten on the wall since August 2020, few Bitcoin FAM trusted this as a store of value and I likened Bitcoin as a technology for this. Bitcoin movement doesn't seem hard to me because its a speculative assets too, so, I always follow the news. Those who want to get in should do it now or never because the market will surge by January 2021 IMO.