Bitcoin Hits $38,000 as Democratic Win Boosts Stimulus Sentiment

Bitcoin Hits $38,000 as Democratic Win Boosts Stimulus Sentiment


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

Trending: Here’s Why It’s Not Over….and Why It Always Had To Be The Military

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

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