Bitcoin rallied continued during the European session Thursday as traders ignored Washington’s political unrest to focus instead on the potential for higher sovereign spending.
The BTC/USD exchange rate established a new record high of $38,180, adding 10 percent to what has been a relentless uptrend in the last four quarters. While the pair pared some of those gains later, the overall enthusiasm across the risk-on markets suggested it would continue posting gains in the US session ahead.
Bitcoin closes above $38,000 in the latest intraday rally. Source: BTCUSD on TradingView.com Bitcoin closes above $38,000 in the latest intraday rally. Source: BTCUSD on TradingView.com
Investors’ bullish outlook on Bitcoin improved further after Democrat Jon Ossoff’s victory in the second of two Senate run-off elections in Georgia. The seats handled control of the US senate to President-elect Joe Biden’s administration. That raised the hopes for additional stimulus for the US economy, beginning with a $2,000 worth of direct aid to deserving