Trump delays stimulus, Bitcoin dumps soon after

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Round-trip talks about a second stimulus package for the people of the United States have been going on for months. Today, President Trump has decided to postpone the case until the end of the 2020 presidential election. This appears to have resulted in lower prices for Bitcoin (BTC) and other mainstream markets.”Nancy Pelosi Asks $ 2.4 Trillion To Bail Out Mismanaged Companies, High Crime, Democratic States, Money That Is Not COVID-19 in Any Way,” Trump he told me in an Oct.6 tweet thread.

“We made a very generous offer of $ 1.6 trillion and, as usual, it is not negotiating in good faith. I reject their request and look to the future of our country. “

No further discussion of the stimulus package will take place before the election, the president said in subsequent tweets, while boldly predicting victory. “Immediately after my victory, we will pass a major stimulus bill that focuses on American workers and small businesses,” he said.

Following these tweets, the market reacted in disapproval. Stocks fell noticeably, while Bitcoin fell around $ 200 before rebounding slightly, maintaining a press price of $ 10,577.

Bitcoin’s drop seems to suggest that the asset’s price continues to react in tandem with traditional markets, at least as far as major budget news goes. For some, this is contrary to the assumed role of the asset as an uncorrelated store of value.



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