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There’s a Big Catch to This Week’s Bitcoin Pump – And It Involves the Dollar

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Bitcoin price pumped this week to above $11,400 in an explosive 14% intraday move. However, the rally being so powerful may have more to do with the dollar’s weakness, and less due to strength in Bitcoin.

And if the dollar reverses sharply from here, it could cause a corresponding correction in the cryptocurrency.

Precious Metals, Cryptocurrencies Rally Ahead of $1 Trillion In Stimulus Spending

Yesterday, the United States Senate was set to deliver its proposal for a second economic stimulus package. The package involving checks distributed to individuals, forgivable loans for small businesses, and more, will total over $1 trillion.

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