Bitcoin Edges Lower After Trump Rejects COVID-19 Stimulus Package

Bitcoin Edges Lower After Trump Rejects COVID-19 Stimulus Package
HeadlinesNewsBitcoin Edges Lower After Trump Rejects COVID-19 Stimulus Package

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Bitcoin Edges Lower After Trump Rejects COVID-19 Stimulus Package

Bitcoinist4 months ago
Published on December 23, 2020 08:56 GMT+0edited on December 23, 2020 09:02 GMT+0

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An overnight rally in the Bitcoin market paused midway as Donald Trump rejected a nearly $900 billion stimulus bill that passed both the Democrat-controlled House and the Republican-held Senate.

The bitcoin-to-dollar exchange rate slipped 1.13 percent to $23,554 in the pre-European session Wednesday. Traders apprehensively reduced their exposure to the cryptocurrency, anticipating that a delayed stimulus package would aid the US dollar’s rebound. The greenback is trading above its two-year low.

A Delayed Bill

Technically, Bitcoin’s price moves appeared choppy. The flagship cryptocurrency kickstarted the week in a negative area on profit-taking sentiment. It also plunged as the news of a new coronavirus mutant turned investors to the US dollar’s safety. Bitcoin fell …