According to senate majority leader <span style="color: #008080"><strong>Mitch McConnell</strong></span>, U.S. lawmakers have <a href="https://www.cnbc.com/2020/12/20/mcconnell-says-congress-has-agreed-to-900-billion-coronavirus-stimulus-deal.html" target="_blank" rel="nofollow noopener">reached</a> an agreement in terms of a second <span style="color: #008080"><strong>COVID-19 stimulus package of $900 billion</strong></span>. The package includes financial relief for small and medium-sized businesses through direct payments for households suffering economically amid the pandemic. Meanwhile, investors remain bullish on bitcoin as the price of the cryptocurrency continues climbing higher.
<h2><strong>The U.S. Reaches Agreement on Stimulus Deal</strong></h2>
The <a href="https://www.cryptoknowmics.com/news/us-congress-agrees-on-900b-coronavirus-relief-package-mitch-mcconnell/">second stimulus package</a> is expected to provide $300/week in enhanced federal unemployment benefits, a $600 check to certain U.S. citizens, including financial help for schools, small businesses as well as fundings during vaccine distribution.

Since the stimulus package could be a boost for the stock markets, it could potentially result in boosting up up the prices of the cryptocurrency market as well. This will be particularly applicable if the recipients of the stimulus check use the financial aid in buying more cryptocurrencies.

There has been massive speculation throughout the year that the government and central bank methods to prevent the financial crisis amid the pandemic will eventually lead to inflation. The stimulus boost will help in the short term no doubt, but in the end, it will lead towards massive debt in the country. Meanwhile, this will in turn spike the prices of Bitcoin, signifying gain for the cryptocurrency.
<h2><strong>Bitcoin Still Appears Bullish After Stimulus Package
</strong></h2>
Bitcoin on a <span style="color: #008080"><strong>BTC/USD</strong></span> exchange rate traded today at an intraday high of <a href="https://www.cryptoknowmics.com/news/btc-triangle-is-coming-to-an-end-the-momentum-to-26685-is-ahead/">$24,072</a> during the Asian trading hours. While Bitcoin futures climbed to as high as $24,210 due to higher purchases of call contracts. This overall reflects traders’ bullish bias for the cryptocurrency.

Last week, the U.S. dollar had gained 0.13 percent after crashing to its two-yearly lows. The fiat currency’s rebound appeared to be a short-term technical correction, confirmed by a strong rejection at its intraday high of 90.13 yesterday. This, in turn, caused the price of the world’s largest cryptocurrency by market capitalization to go higher which typically trades inversely to the dollar.

U.S. Reaches Agreement on Stimulus Deal, Bitcoin Still at All-Time High

U.S. lawmakers have reached an agreement in terms of a second COVID-19 stimulus package of $900 billion while investors remain bullish on Bitcoin.

Jafrin is a cryptocurrency journalist/researcher fascinated by the world of decentralization. She is hopeful towards blockchain’s innovation and its potential to reshape the world for good. Currently, she is bringing out the best of cryptosphere via covering the latest ins and outs of the blockchain space.

U.S. Reaches Agreement on Stimulus Deal, Bitcoin Still at All-Time High

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