Will This Political Deal In The US Save Bitcoin and Crypto?
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Politicians in the United States will likely strike a deal and raise the government’s $31.4 trillion debt ceiling for two more years. Amid this debate, the price of Bitcoin is firm but lower, tracking below the psychological $30,000 level as bulls recover after posting sharp losses mid-this week. The Debt Ceiling Debate There are reports that there will be more discretionary spending on the military and veterans with the reduction of other sectors. Moreover, there are unconfirmed reports that the Biden administration will likely not fund the Internal Revenue Service (IRS) to boost collection, as laid out earlier. Instead, the immediate focus
On Tuesday, February 19, the Federal Reserve released their meeting minutes, revealing that central bankers are considering an end—or at least a significant slowdown—to quantitative tightening (QT). The document states: “Several participants suggest halting or slowing balance sheet reduction pending debt ceiling resolution.” These remarks have fueled optimism among Bitcoin…
Analyst Tony Severino has revealed that the Bitcoin price currently has a ceiling of $137,000. This has raised questions about whether this is the highest point that the flagship crypto can reach in this market cycle, and the analyst also provided some answers. Bitcoin Price Ceiling Is At $137,000 Tony…