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24 November 2020

Bitcoin At Crossroads With Its Biggest Bearish Fundamental: US Treasury

Bitcoin At Crossroads With Its Biggest Bearish Fundamental: US Treasury


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Bitcoin At Crossroads With Its Biggest Bearish Fundamental.

As President-elect Joe Biden takes oath on January 20, he would most likely reenact the emerging lending programs, especially as the US’s rising coronavirus cases put further restrictions in place.

But in the event of a split Congress, creating new lending facilities could become difficult for Democrats, leading to the stimulus-deadlock-like scenario.

That would make the US dollar stronger, creating pressure on Bitcoin and other pandemic winners to lose some portion of their gains.

The Mnuchin story expects to create downside pressure in the US stock market

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