The Senate just passed a bill that would help fix the inflation. The popular Bitcoin maximalist Hodlonaut has a few words to say about all this.
Printing money to drop inflation?
Check out the tweet that he shared the other day.
Printing money to fix inflation. Big brain move. 🙏 https://t.co/OZXXA8091v
— hodlonaut 🌮⚡🔑 🐝 (@hodlonaut) August 7, 2022
Someone commented the following:
“While it falls well short of original proposals, this bill includes several major provisions:
• largest climate action in U.S. history
• allowing Medicare to negotiate price of some prescription drugs
• new 15% minimum tax for some corporations
• $300B in deficit reduction”
It’s also been revealed that Sen. Jon Ossoff (D-GA) and VP Kamala Harris acknowledge each other while celebrating the passage of the Inflation Reduction Act.
“Worth remembering: Without Ossoff and Sen. Raphael Warnock’s wins in the Georgia Senate runoffs, the bill would never have been possible.”
Bitcoin flashes bullish signal
At the moment of writing this article, BTC is trading in the green, and the king coin is priced at $24,196.
It’s been revealed that a popular analyst is providing price target updates for four crypto assets as the markets try to end the week in positive territory.
The pseudonymous trader known as Altcoin Sherpa said that while he does expect Bitcoin (BTC) to revisit $28,000 in the not-too-distant future, the brief surge above $24,500 on July 30th didn’t convince him that BTC is witnessing a strong uptrend in the short-term timeframe.
“I’m still of the opinion we’re going to $28,000 in the mid-term, but would like to see more chop around this $23,000-$22,000 area to form a significant low. The last high at $24,700 wasn’t super convincing to be honest but still a bullish market structure in my opinion.”
Stay tuned for more news from the crypto space, and make sure to keep an eye on the market.