Bitcoin traders view possible US economic shutdown as bullish
The US government could shut down this weekend if Democrats and Republicans cannot reach an agreement on spending. Politicians are currently considering the bill, and both chambers are deadlocked. If a bipartisan proposal aimed at averting a shutdown does not win approval by midnight Saturday, the government will be forced to close its doors. Coinshares analyst Luke Nolan believes that some market participants are confident that the upcoming shutdown will serve as a bullish catalyst for Bitcoin and the entire crypto economy:
A possible government shutdown is promising for cryptocurrencies because it directly impacts the perception that non-sovereign currencies are unaffected by government procedures, Nolan explained. The previous US government shutdown lasted 35 days from December 2018 to January 2019. According to CNN, "the shutdown could have huge impacts across the country, from air travel to clean drinking water."
