Bitcoin Crosses $12K as Pelosi and Mnuchin Near Stimulus Deal

Bitcoin rose on renewed optimism for the second coronavirus stimulus package, while the US dollar plunged. But with the existing package drying out, and a delay in passing the second one ahead of the US presidential election, the cryptocurrency has entered a medium-term bias conflict.

Anthony Pompliano, the co-founder of Morgan Creek Digital, said in an investor note earlier this week that he expects Bitcoin to grow by approximately 10-times its current spot rate. The Bitcoin futures market did not show as much enthusiasm to the price rally as the Spot one.

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