First Batch of $1,400 Stimulus Checks Hit Bank Accounts Starting Today

[Kakmakr]

I think it is highly unlikely that the "Stimmy" money is going to end up in Crypto currencies. The US is a debt driven economy and most people are knee deep into large debt. (Bond / Credit cards / Car loans etc.)  The other thing is, a lot of people have lost their jobs and the stimulus funds are going straight into buying food to survive.

I play on some gambling sites and there are already a lot of the people there, that are saying that they are waiting for that money to come through ..so that they can gamble with it.     (So much for toilet paper money.. going towards boosting the economy)

[so98nn]

Here's another source --> https://www.foxbusiness.com/economy/banks-processing-stimulus-checks

Could this be another reason why we see bitcoin hit another all time high? those times when the news about stimulus came, there was an increase that happened for bitcoin.

I don't think this is the reason behind the new ATH.

The U.S. is printing dollars daily. Another trillion or two doesn't have a lot of difference.

I think the reason is the constant flow of institutional investors. I read about at least three new public companies investing in Bitcoin in the past two days.

This sounds more genuine reason for the current up rise of the bitcoin and reaching to ATH. Stimulus may not be used by the peeps of america to invest in the bitcoin strictly. There are oldies, mid-workers who would not want their money to be flooded into crypto and loose it up. In fact there is wide population who does not even know bitcoin or it's proper use. So this completely rules out the possibility that stimulus money is being used to invest into the crypto. Idk, it could be influencers & investor like Elon who is making the mega moves.

[Timelord2067]

You may be right with the price jumping $4,000+ so far today (and it's still the weekend globally) No doubt when the banks and markets open and week-day traders come online.

I feel Bitcoin will top $80,000 by the end of March (on its way to $100,000 in the next couple of months).

[Shasha80]

As predicted by many experts, the US government will distribute the official stimulus check. So many recipients of the stimulus check used to buy
Bitcoin. Because only Bitcoin is currently the asset that can provide the most profit, and also if it is kept in bank accounts, the value may decrease
due to inflation. Therefore I am not surprised by the price of Bitcoin suddenly rising, because it is according to predictions. With this I am very
optimistic that Bitcoin will soon hit its next target at $ 75k, so I have no intention of selling Bitcoin right now.

[aysg76]

BTC will go crazy up today
First Batch of $1,400 Stimulus Checks Hit Bank Accounts Starting Today [Suspicious link removed]j.com/articles/bidens-1-400-stimulus-checks-hit-bank-accounts-starting-today-11615590107

400 billion dollars being sent out

It's one of the main reason for insane prices rises in Bitcoin and standing at ATH of $61k today on CMC.The other reason being huge investment by the big institutions like MicroStrategy,Tesla investment which have push the prices further.This stimulus will also affect the prices as people will be buying more cryptos with the new dollars printed by the government as the bill has been passed for billion dollars and US citizens could flood the market with investment as crypto like Bitcoin giving huge returns in such short span of time is no joke for them.We will see prices soon to $100k or so just have faith.

[dhemasm]

I see, So it's was also affecting the Bitcoin Price today i suppose? For Married People from what i read it get $2800 which is double than Single Person and basically from round 2 Stimulus check last year we can see high spike on Price & Volume on the Bitcoin Price Chart, It's reasonable to split that money to buy some Bitcoin and we can see the effect on the current price, Well it was good news people realizing Crypto was an good Option. Let's see what will happen next.

[Vishnu.Reang]

Another $400 billion surge in the M1 money supply of US Dollar. If I am not wrong, there was a large increase in 2020 itself and the percentage increase for 2021 may be even higher. As expected Joe Biden and Kamala Harris are implementing the tried and tested socialist policy of providing cash handouts to the people, in return for their votes. Those who value their wealth will soon find out that it is no longer safe to keep money in their bank accounts and they need to convert it to some asset that is protected against inflation.

[Bellarg]

Glad to see that market reacts to this in the right way

[dkbit98]

BTC will go crazy up today
First Batch of $1,400 Stimulus Checks Hit Bank Accounts Starting Today

This was expected and it is just getting started.
It is interesting that European Central Bank is following them with faster money printing to fight with yield rise like ECB president Christine Lagarde announced few days ago, with 1.85 Trillion euros emergency purchase, and whole world will soon follow.
We can't even imagine what is going to happen with poor regions and with third world countries, but Bitcoin fixes this.

[bryant.coleman]

This was expected and it is just getting started.
It is interesting that European Central Bank is following them with faster money printing to fight with yield rise like ECB president Christine Lagarde announced few days ago, with 1.85 Trillion euros emergency purchase, and whole world will soon follow.
We can't even imagine what is going to happen with poor regions and with third world countries, but Bitcoin fixes this.

For us Bitcoiners, it can't get any better than this. Let them print banknotes like there is no tomorrow. Very soon Euro and US Dollar (along with the vast majority of the fiat currencies) will be worthless pieces of paper similar to Venezuelan Bolivar or the Zimbabwean Dollar. Hopefully $100,000 coin level will be achieved in a few months from now, and higher targets may take a little bit more if they keep on printing like this.

[dkbit98]

For us Bitcoiners, it can't get any better than this. Let them print banknotes like there is no tomorrow. Very soon Euro and US Dollar (along with the vast majority of the fiat currencies) will be worthless pieces of paper similar to Venezuelan Bolivar or the Zimbabwean Dollar. Hopefully $100,000 coin level will be achieved in a few months from now, and higher targets may take a little bit more if they keep on printing like this.

Anything is possible if we check the chart below for previous periods after Bitcoin halving and combine that with current money printing and inflation in the world.
$100,000 and higher values looks inevitable, and it's only a matter of time when this will happen, but I do expect crazy volatility on the way up.
Look what happened after halving in 2012 and 2016 related to stock-to-flow model, and just follow the red line:

[DeathAngel]

You may be right with the price jumping $4,000+ so far today (and it's still the weekend globally) No doubt when the banks and markets open and week-day traders come online.

I feel Bitcoin will top $80,000 by the end of March (on its way to $100,000 in the next couple of months).

Yep, it’s happening. There are very little alternative options for investors (both big & small scale) to put their money to almost guarantee profits in the short term.

Don’t miss out guys.

[ene1980]

I feel Bitcoin will top $80,000 by the end of March (on its way to $100,000 in the next couple of months).

Not sure it will reach $80,000 by the end of this month but we will see those valuation if the market is moving like this and anyone who were expecting a correction should be disappointed because it is showing no signs of slowing down.
 

It's one of the main reason for insane prices rises in Bitcoin and standing at ATH of $61k today on CMC.The other reason being huge investment by the big institutions like MicroStrategy,Tesla investment which have push the prices further.

Not sure about people investing in cryptocurrency when they receive a check by the government but institutional investors are the reason for these huge rally without a doubt.

[The Sceptical Chymist]

The thing is, people in America are not starving--some are, sure, but I'm talking about the vast majority of Americans who are going to be getting those $1400 checks.  Doubtless many of those recipients are going to be using the stimulus money for nonessential things, bitcoin included.  They'll probably keep buying up all the graphics cards with >4G of memory, too, in order to mine ETH and a lot of other coins.

So yeah, I do think bitcoin will likely get another bump up after all those checks are processed and everyone has their money.  But the run-up to $60k was probably caused by institutional buying rather than individuals.  Anyway, we'll see.  The mood in the crypto space is extremely positive, so I expect if people suddenly get $1400 to spend that quite a few will be blowing it on bitcoin and other crypto-related stuff. 

I also expect the stock market to keep rising as well.  This is "good" inflation, but we might start seeing "bad" inflation as well.  As I mentioned in another thread, gas prices have gone up substantially in the past year and probably other things as well.

[thecodebear]

Just remember that the vast majority of people aren't in Bitcoin. So it's not like 50 million $1400 checks are going to come into Bitcoin.

Also remember plenty of people actually need this money to get by during the pandemic, and will be spending it on basic needs.

Also remember that even of the people who don't need the money, do plan on investing it, and own Bitcoin, not all of them will buy Bitcoin with it as they may have other investments they want to put it towards.



Sure this will bring money into Bitcoin, but it won't be a tidal wave of money. It'll probably be the equivalent of a few big institutional bitcoin purchases, but coming over the period of the next few weeks or even couple of months. It won't be anything outside the normal realm of movements that a bitcoin bull market already has. Good for bitcoin sure, maybe it boosts the price a couple thousand dollars higher over the next month or two than it would have been otherwise, but don't expect some stimulus moon!

[KTChampions]

You may be right with the price jumping $4,000+ so far today (and it's still the weekend globally) No doubt when the banks and markets open and week-day traders come online.

I feel Bitcoin will top $80,000 by the end of March (on its way to $100,000 in the next couple of months).

Perhaps there is no direct connection, rather the rise in price was caused by expectations. The speed at which the market reacted is too fast for this money to actually come to the market. But this is most likely good for the market, since the arrival of this money is ahead of us and it is likely that the target levels you specified will be achieved.

[verita1]

It is always a dilemma when the United States government sends the stimulus checks. The crypto community puts the magnifying glass on this news speculating that the beneficiaries could invest in bitcoin or cryptocurrencies.

Although I wish it were true for them to make a profit that allows them to get out of their coditian expenses without worry.
According to a survey carried out a few days before the delivery of the stimulus checks, the surveyed population responded.

The study surveyed 110 million people who reported receiving checks in the previous seven days during the time period. Some 52% said they used it to largely pay off debt, 28% spent it, while 19% opted to save the money.
 
https://www.google.com/amp/s/fortune.com/2021/03/12/stimulus-check-3-spending-food-utilities-stocks-bitcoin-3rd-round-stimulus-checks-payments-us-census/amp/

I was curious to know about how to choose savings and I found a link that offers 4 alternatives and the last one precisely points out the following: 

Investors who already invest regularly can take a little more risk with this 'extra' money. "Consider breaking it up into higher-risk, higher-return investments like cryptocurrencies or even penny stocks," Hogue said

https://www.foxbusiness.com/category/savings

I imagine that anyone who wants to save would hesitate a bit in choosing to invest in cryptocurrencies. It is true that investing in cryptocurrencies is risky but it is ceasing to be as risky as before and the world population should know it.

[Wind_FURY]

For us Bitcoiners, it can't get any better than this. Let them print banknotes like there is no tomorrow. Very soon Euro and US Dollar (along with the vast majority of the fiat currencies) will be worthless pieces of paper similar to Venezuelan Bolivar or the Zimbabwean Dollar. Hopefully $100,000 coin level will be achieved in a few months from now, and higher targets may take a little bit more if they keep on printing like this.

Anything is possible if we check the chart below for previous periods after Bitcoin halving and combine that with current money printing and inflation in the world.
$100,000 and higher values looks inevitable, and it's only a matter of time when this will happen, but I do expect crazy volatility on the way up.
Look what happened after halving in 2012 and 2016 related to stock-to-flow model, and just follow the red line:

Plus M2 Money Supply is in the highest in history, and Velocity Of Money is the lowest in history in the United States and probably in many counties, because of BRRR printing and the partial closing of the economy during the pandemic.

https://fred.stlouisfed.org/series/M2SL
https://fred.stlouisfed.org/series/M2SL#0

Where would all that money go when the economy opens up again? 2022 might be a better year for Bitcoin.

[ice18]

$1.9 trillion stimulus will literally send Bitcoin to the Moon. I'm waiting for my check. Spending the last stimulus on buying BTC and ETH via Ownr was my best investment deal ever.

I doubt it do you really believe that this stimulus given to US citizens will go to crypto? How many people are going to risk this money in crypto? If you are one of the recipient and you really need money for some expenses Do you want to gamble your money by buying btc? That's a question no one can answer if how much of the percentage of this stimulus will going to crypto.     

[LogitechMouse]

$1.9 trillion stimulus will literally send Bitcoin to the Moon. I'm waiting for my check. Spending the last stimulus on buying BTC and ETH via Ownr was my best investment deal ever.

Looks like what you are thinking isn't going to happen right now as we saw Bitcoin went from around $61,000 2 days ago to now ~$56,000. Looks like you're hopes on Bitcoin going to the moon because of stimulus package is gone now .

I pegged out $57,476 as its short term support as it broke it days ago. When a resistance has been broken, that will be the next short term support. The problem is it didn't hold unto that support and passed thru it downwards. I'm seeing the next support @ ~$50,000 right now. Sadly it didn't went to what most of the users here are expecting. Instead of us seeing it going upwards, looks like the traders came on top and sold their holdings and got liquidated near the $60,000-$61,000 price.