A few things happening that could push Bitcoin higher.
1) $1.9 Trillion stimulus package, passed by the Senate this weekend, it heads back to Congress for passage of the changes the Senate made. Assuming they pass it this week it will be on Biden’s desk for approval which he will certainly sign. That’s $1.9 Trillion of new printed dollars.
2) The Repo market is completely frozen and the 10 year Treasury within the Repo market traded at -4.25% on Friday, the first time ever. Normally -3% is the floor but things became worse very quickly. With Repo frozen it will limit banks from lending crushing the economy and you know the Fed’s answer, money printer go brrrrr.
3) The Fed refusing to intervene with the Yield Curve Control as shorts have taken over the 2 & 10 year Treasury market pushing yields over 1.5% for the first time in a year. Assuming this continues the Fed will be forced to do Operation Twist 3.0 which will revolve around Yield Curve Control. I know you guys know what that means, money printer goes brrrrr.
With these three events possibly happening at the same time we could easily see $3 - $4 Trillion printed in the next few weeks, if that happens it’s extremely bullish for Bitcoin as well as the other top crypto assets.
