Bitcoin depășește 40 de dolari, deoarece Biden prezintă noi fonduri de cheltuieli guvernamentale de 6 milioane USD

As United States President Joe Biden cadouri a new $6T government spending funds proposal is published, Bitcoin (BTC) surpasses $40,000 at the expense of the US dollar.

Biden Presents New $6T Government Spending Funds

Joe Biden, United States President will address the most expansive fiscal policy since World War II on 28 May. The New York Times raportate that this was done to assure investments in important infrastructure, education, and healthcare initiatives.

Biden presents a new $6T government spending funds proposal to spend in 2022. In addition, he intends to increase overall expenditures to $8.2 trillion by 2031.

Biden had previously suggested huge majorări de impozite on America’s wealthiest corporations and people to support his huge spending plan. However, the government’s fiscal imbalances may not be reduced until at least 2030, according to the Times. As a result of borrowing money to fund Biden’s record proposal, the United States would confront a massive load of debt. 

According to experience, the circumstance acts as a perfect bullish backstop for Bitcoin. The decentralized cryptocurrency increased 1,582% from the March 2020 low of $3,858 as the US government increased expenditures to record levels to battle the coronavirus crisis.

The Demise Of The World’s Reserve Currency ‘USD’

In contrast, the US dollar strength index (DXY), which measures the strength of the greenback against a basket of leading international currencies, fell by up to 13.38 % after rising in March 2020 amid the worldwide market crisis.

Meanwhile, Anthony “Pomp” Pompliano, the founder of Pomp Investments and a well-known Bitcoin lobbyist, prognoze additional reductions in dollar bids.

“The administration proposes to further indebt our country while simultaneously eroding the value of our currency,” Pompliano stated. “Historians will write that the government hastened the demise of the world’s reserve currency as citizens cheered them on.”

Guvernul propune să ne împingă țara în continuare în datorii, distrugând simultan valoarea monedei noastre.

Mass-media financiară obișnuia să fie responsabilizarea celor de la putere.

Unde au plecat adevărații jurnaliști? Cine se va ridica și va împinge înapoi?

- Pomp 🌪 (@APompliano) 27 Mai, 2021

Other analysts have chimed in, recommending Bitcoin — with its fixed supply — as a hedge against a steepening US debt curve.

Președintele SUA, Joe Biden, va anunța bugetul de 6 trilioane de dolari.

Datoria ca% din PIB va crește la cele mai înalte niveluri de la al doilea război mondial.

🤔 Buy #Bitcoin

- Arhiva Bitcoin @ (@BTC_Archive) 27 Mai, 2021

#bitcoin has no top because fiat has no bottom pic.twitter.com/Zl3AygwVsB

- PlanB (@ 100trillionUSD) 27 Mai, 2021

Bitcoin Is Now Worth $40,000 Again

The New York Times report sparked concerns throughout the early morning U.S. trading session, with the DXY dipping by 0.01 percent at the New York opening bell while Bitcoin regained $40,000.

The BTC/USD exchange rate challenged its 200-day simple moving average (the orange wave in the chart above) for a breakout move to the upside, which is now at $40,756.

If this target is met, the pair will be looking for closing above its 20-day exponential moving average (the green wave) — approximately $43,655 — to reaffirm its short-term bullish bias.