Bill Update: Lawmakers Optimistic on $748 Billion Stimulus Bill, BTC Price Approaches $20k Again

By Sunil Sharma
Published December 16, 2020 Updated December 16, 2020
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Bill Update: Lawmakers Optimistic on $748 Billion Stimulus Bill, BTC Price Approaches $20k Again

By Sunil Sharma
Published December 16, 2020 Updated December 16, 2020

On one side the congress leaders are trying to get on same page for the Friday deadline of stimulus and spending bill, Bitcoin is fast approaching its all time high of 20k again. The bitcoin and crypto community is eagerly waiting for the congress to pass $748 Billion stimulus and spending bill that might boost the Bitcoin prices.

Congress Leaders meet to reach a Spending Deal

Earlier today as reported by New York times, top four congressional leaders met in-person to discuss the stimulus and spending deals for covid19 pandemic ahead of the Friday deadline. Congress needs to take a final call on the proposed $748 billion bill that separated $160 Billion for local and state governments while remaining $588 billion stimulus aid.

As per the reports, lawmakers were optimistic on the progress post meeting of the two top leaders from both republican and democratic party. Leaders from both sides seemed confident and expect to reach a deal by Friday. Speaking to reporters Republican leader Mitch McConnell said,

“We’re making significant progress.”

Bitcoin Eyeing $20k Again Amid Ongoing Bill Discussions

At the time of writing Bitcoin price has surpassed $19.8k and is attempting to break all time high of $20k again after multiple failed attempts. As per history tells stimulus aid is expected to effect Bitcoin prices positively.

BTC all time high price
Bitcoin price approaches all time high again

Massive government stimulus aid throughout 2020 has boosted both Bitcoin prices and equity markets. Though reaching to an agreement on the spending and stimulus deal is not easy as a bipartisan consensus from both political parties is required. While the democratic leaders are demanding for an additional aid to support local and state govt.’s, the republican leaders are asking to sweep liability protections for businesses and other organizations operational during the pandemic.

 

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Disclaimer
The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
About Author
Sunil Sharma
287 Articles
Sunil is a serial entrepreneur and has been working in blockchain and cryptocurrency space for 2 years now. Previously he co-founded Govt. of India supported startup InThinks and is currently Chief Editor at Coingape and CEO at SquadX, a fintech startup. He has published more than 100 articles on cryptocurrency and blockchain and has assisted a number of ICO's in their success. He has co-designed blockchain development industrial training and has hosted many interviews in past. Follow him on Twitter at @sharmasunil8114 and reach out to him at sunil (at) coingape.com

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