Bitcoin to rally again?

Today is a bullish news day for Bitcoin and crypto in general, as we got important announcements that show support for cryptocurrencies.

Zero interest rates until 2023

Major things are happening, first being Federal Reserve Chairman Jerome Powell, who announced that lending interest rates will remain 0% until 2023 and bond borrowing will continue for the next months. A lot of americans can refinance their credits and ease the debts caused by the pandemic.

Bitcoin reacted to this instantly and the price rised  from $55500 to $57600 in just one hour, which is pretty good if we keep in mind the bearish trend where it floated for the last few days.

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Morgan Stanley allows Bitcoin exposure

The second good news is about Morgan Stanley, which allows exposure to Bitcoin for its customers, an example that will be followed by other banks for sure in the future. It looks like customers demanded it and the customer is always right

We can expect big movements, possibly a new ATH break, following this announcement, as this represents a key point for traditional banking systems, a change that will only solidify Bitcoin’s position in the financial world. Cryptocurrencies are taken seriously, not only as a technology, as it was the case until now, but also as a store of value and wealth instrument.

Cashapp is allowing Bitcoin transactions at no fees

 

Last but not least, Square’s popular app for sending money, CashApp, has just announced that Bitcoin transactions are fee-less.

Also, there is a giveaway of $1million in BTC. This move puts Bitcoin in front of millions of customers that are using the app for monetary transfers.

The impact is massive, exposure is very high for Bitcoin right now, and in combination with stimulus checks from The American Rescue Plan, it can send Bitcoin to Mars before Elon Musk’s rockets.

 

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