Bitcoin and cryptocurrency traders face a moment of pause as they await two major events that will likely either send the BTC price soaring or cause a major bearish correction in the crypto markets.
Despite the fanfare made regarding Square’s recent $50 million investment into Bitcoin and joining the list of public companies hedging with the crypto asset—the BTC price has remained mostly uninfluenced by what many have viewed as a catalyst for further mainstream investment.
However, in the next 24 hours—two events will occur that could give Bitcoin traders the buy or sell signal they are seeking. The first is that in the next few hours, Federal Reserve Chairman, Jerome Powell is set to speak on the digital currencies at the International Monetary Fund’s (IMF) annual meeting.
The second event is the impending deadline on a pre-election round of stimulus—set by House Democrat Speak Nancy Pelosi for the Trump Administration to reach a deal with Democrats by Tuesday, Oct. 20.