Experts are confident that the upcoming US Congress package of $ 900 billion to support economy will directly affect the quotes of the cryptocurrency market.
The new package is the second largest economic packagestimulus in US history, following the $ 2.3 trillion bill in March. Analysts expect that it will lead to the depreciation of the US dollar and acceleration of inflationary processes. Such concerns about inflation and the monetary policy of the US Federal Reserve lead to the search for alternative ways of preserving values.
Early in the year the Federal Reservecut short-term interest rates to near zero and started printing trillions of dollars to support the economy. As a result, the dollar index fell more than 6% this year.
Experts believe that after the adoption of another $ 900 billion aid package, a new portion of liquidity will flow into financial markets and through institutional investors will flow to the crypto market.
Against this backdrop, large investors, hedge funds andcompanies include bitcoin in their inflationary deals, along with gold, stocks and bonds. And the emergence of qualified custodians and other infrastructure contributes to the attraction of significant institutional capital to the cryptocurrency market.
At the same time, famous players such asFidelity and Paypal have announced plans to provide regular consumers with more options to store and spend cryptocurrency. Such moves mean bitcoin is being taken seriously in the mainstream world of finance.
This is all part of the growing trend of regulatory andinstitutional acceptance of bitcoin and other cryptocurrencies. When Fidelity announced its bitcoin fund, for example, it also released survey data showing that 36% of institutional investors in the US and Europe already own digital currencies, and 60% believe digital assets should be included in an investment portfolio.
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