— $1200 Stimulus Is Now Worth (@BitcoinStimulus) March 10, 2021
The second stimulus check proves that it is never too late to buy Bitcoin. The second stimulus check was disbursed in late December. At that time, Bitcoin was trading for $30,000. Those who invested their $600 checks at the peak of the recent rally have gained over 95%.
And the gains are not special to Bitcoin, those who invested in either Cardano or Ethereum have even recorded higher gains as the two coins have outperformed Bitcoin in that time frame.
This is proof that even at current highs, Bitcoin could still double to $100K. Notably, when the two checks were disbursed, Bitcoin was not as popular as it is now. Influential people such as Elon Musk, and institutions like Square and Tesla have now made Bitcoin the desired investment option.
The Collapse of Fiat
With the government set to print $1.9 trillion out of thin air, it’s an opportune time for Bitcoin believers to point out that Bitcoin has a limited supply.
Unlike the dollar which can just be printed, causing it to saturate and cause inflation in the long term, Bitcoin has a definite limit and has a supply cut every four years. This is a reminder that Bitcoin is better money than fiat.
The stimulus check finds Bitcoin in a slump despite trading very close to its recent high. The situation makes it ideal for buyers to accumulate. The checks are likely to trigger a buying spree that pushes Bitcoin to break above its current ATH of $58K.
Once the leading digital asset breaks its ATH and goes into price discovery, investors will likely go into a FOMOing phase. Fear of Missing Out (FOMO) is when investors flock into a promising asset to catch its high. In the next bull cycle, analysts like CryptoBirb expect Bitcoin to reach as high as $75K.
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