Bitcoin (BTC) has finally come out of a dull phase, remaining at around $ 10,000 for a few weeks with the biggest surge since September 2.
Last Saturday, the digital asset jumped to $ 11,484 for the first time after a static month, giving hope to the next surge.
Based on analysts' observations, the surge was driven by confidence in the outlook for the United States (US) stimulus package after the White House added $ 1.8 trillion Democratic Party funds to the pandemic aid package over the weekend.
The stimulus package is reported to bring three benefits to BTC, namely:
Government and central bank spending in addressing the impact of the coronavirus pandemic will cause inflation and this is a positive signal for cryptocurrencies.
Anything that leads to an increase in equity will boost BTC as a result of the current relationship between equity and BTC, including investors considering BTC as a technology stock.
The salary stimulus in the form of cash to individual investors opens up opportunities for them to invest and part of that investment may be BTC.
Previously, this Square investment had caused the digital currency to soar around $ 10,775.
