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Bitcoin Price Spikes as Trump Announces $2,000 in Dividends to Some Americans

BTCUSD. Source: TradingView

Bitcoin’s worth skilled one other uptick in the previous few hours as the asset tapped $104,000 for the third time in the previous week.

This one got here after a moderately fascinating promise by US President Donald Trump, who stated that many Americans, other than high-income folks, would get a dividend of no less than $2,000 per individual.

Trump’s promise got here after he defended the tariffs towards quite a few nations that he imposed throughout his present presidential run. The US Supreme Court is at the moment hearing arguments on whether or not these tariffs are even authorized, whereas a number of specialists have spoken towards them.

These dividends of no less than $2,000 reminded of comparable ‘free cash checks’ that many Americans obtained – the stimulus despatched throughout the first days of the COVID-19 pandemic. At the time, when numerous companies had to shut quickly and folks have been left with out jobs, the US authorities started sending checks of $1,200 to folks.

The ever-vigilant and vocal crypto group began to speculate whether or not these funds have been used to buy crypto, and plenty of altcoins exploded shortly after, which intensified the rumors.

Interestingly, BTC’s worth, alongside most altcoins, spiked in the previous few hours after Trump made his bulletins, which introduced comparisons between the 2 occasions.

For now, although, bitcoin jumped from below $102,000 to $104,000 inside minutes, whereas ETH is up by greater than 4% and trades above $3,500. ZEC continues to outperform following one other 24% surge to $650. XMR follows swimsuit with a 19% pump.

BTCUSD. Source: TradingView
BTCUSD. Source: TradingView

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