With a $ 3.5 trillion stimulus bill on the horizon, the cryptocurrency market is on the rise

With Bitcoin floating above $ 47,000, the entire market capitalization of the cryptocurrency exceeds $ 2 trillion, which has not been seen since the correction began nearly 3 months ago. At the same time, the Biden government is developing its plan to whitewash printing presses by injecting another $ 3.5 trillion into the ocean of Fiat currency, while steadily reducing the purchasing power of American citizens. 

The financial world continues its madness, and the Biden government is preparing to pour more oil into the fire that is the current fiat monetary system. With October’s $ 1.2 trillion infrastructure bill just passed by the Senate, which has a $ 3.5 trillion October addition, things are getting ridiculous. 

Senate Minority Leader Mitch Mcconnell put it in perspective when he recently claimed there was a $ 3.5 trillion plan: 

“The Senate is going to be in an ultra-partisan conflict over the staggering, reckless increase in taxes and spending.” 

Democratic Sen. Joe Manchin of West Virginia expressed that view: 

“Given the current state of the economic recovery, it is irresponsible to continue spending at levels more appropriate to respond to the Great Depression or Great Recession, rather than an economy on the brink of overheating,” he said. 

July Sunday, meanwhile, in the cryptocurrency sector, bitcoin remains decidedly stable, with the rest of the market making big gains since mid-July. Bitcoin made a profit of about 65%, Ethereum 95%, and many other cryptocurrencies made a profit of 100% or more. 

Cryptogeld’s entire market capitalisation is currently $ 2.1 bn and the bull market is in its second phase as a potential double high and this will be the start of significant growth of this new asset class and in the second half of this year. 

Many US citizens should be aware of the seriousness of what is happening, as a mass transfer of wealth from the poor and middle class to the rich.

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