A recent research said that the Bitcoin price is set to correct if stimulus fails to extend. A recent newsletter to Delphi Digital said that the stimulus will be up against equity markets.
According to the firm, COVID-19-related government spending has breached the $1.1 trillion mark, bringing June’s monthly budget deficit to $864 billion, the worst in U.S. history.
Meanwhile, the Federal Reserve will continue to print the notes to help the economy grow.
The United States is among the worst hit due to the novel coronavirus pandemic situation. According to data from Skew, realized volatility between Bitcoin and the S&P 500 continues to reach new highs and currently sits at 38.9%.
The United States has seen a surge in novel coronavirus pandemic situation. It is expected that the PPP loan receipts will exhaust their funds in this situation.
“There’s been much debate in Washington as to the appropriate next steps, but it finally appears lawmakers on both sides of the aisle understand the need to act. With President Trump’s reelection chances slipping through his grasp, Republican leaders would be shooting themselves in the foot if they were to delay or block proposals for additional fiscal support,” the newsletter said.