Post
Topic
Board Bitcoin Discussion
Re: First Batch of $1,400 Stimulus Checks Hit Bank Accounts Starting Today
by
HabBear
on 13/03/2021, 20:30:18 UTC
Some people from California were claiming on Reddit that they got their "stimmy" yesterday. I doubt that action is driving a $4k plus jump over the night in the US. The voices online talking about dumping their check into crypto or wallstreetbets are loud and numerous but when compared to the amount of money they can actually devote to the market (and affect price changes) it's minimal. But it's impossible to know for sure.

The only thing that is certain is that Bitcoin (and all crypto) is a truly global market...all day all night. Anything we believe locally could influence Bitcoin is actually going to have less real impact on the price because of this global factor.

What's more likely is that another institutional buyer decided to go in or "buy the dip" and they submitted that transaction at the start of the weekend when other corporate competitors wouldn't be poised to respond.

Just my BTC0.02000000.