Bitcoin price: where do we go from here?

Bitcoin price: where do we go from here?

The $1.9 trillion US stimulus package, how ETH supply is getting tighter and the 520,000,000 XRP transaction

Welcome to our CryptoMonday weekly review of week 02. As usual, there was a lot worth mentioning to report this week and so it is no surprise that we can once again come up with a whole range of interesting news.

Our topics this week range from the 1.9 trillion US economic stimulus Bitcoin Era programme and its impact on the Bitcoin price, to the increasingly scarce supply of ETH and what that means for the future Ethereum price, further background on the SEC lawsuit against Ripple, to a 520,000,000 XRP transaction that caused a stir this week.

Bitcoin price slips below $35,000 after Biden unveils 1.9 trillion stimulus package

Positive reactions to a $1.9 trillion stimulus package sent the bitcoin price sliding again on Thursday this week.

The Bitcoin price briefly fell below $35,000 on 15 January after a seemingly strengthening US dollar put pressure on the world’s largest cryptocurrency. However, the price of BTC found a support level at $34,300 that cushioned the sudden fall somewhat.

This again leaves open where the Bitcoin price will go next. In this article, we review the current developments and point out a possible bullish as well as a potential bearish scenario for the Bitcoin price.