Cointelegraph Consulting: New stimulus checks may push Bitcoin price above $11K

Cointelegraph Consulting: New stimulus checks may push Bitcoin price above $11K


The latest research by Cointelegraph Consulting suggests that financial stimulus packages bolster the stock market and cryptocurrencies. The first round of checks worth $1,200 were deposited directly into bank accounts on April 11. A week later, the CEO of Coinbase, Brian Armstrong, pointed out that the deposits in the amount of $1,200 on Coinbase were surging. 

Now, Washington is debating whether to issue a second round of checks. If they do, this could be good for the prices of all assets, including stocks and digital assets, in the short to medium term. If the House of Representatives passes the bill before the presidential election, the checks are estimated to be sent out by December.

By the end of the summer, the S&P 500 recovered and even reached a new all-time-high. Bitcoin has also climbed from $6.5K in March to above $10.5K by October. The growth in the prices of these assets may be explained by the huge financial stimulus

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