• Bitcoin (BTC) could set a trend high of $78,000 soon based on new market information.

  • China announced its stimulus package which will inject $140 billion into the financial system.

  • Historically BTC pumps 100% after a stimulus and this is the highest since the pandemic.

The crypto community sets higher sights for a new Bitcoin ATH target for its next trend high. The expectations for a $68,000 to $70,000 trend high have now pumped to a trend high expectation of $78,000. This new bullish sentiment is fueled by the Chinese stimulus package. 

$140 Billion Liquidity Coming for Financial Systems

In detail, China’s central bank unveils the most aggressive stimulus package since the pandemic. To highlight, this package includes a direct injection from the People’s Bank of China. Indeed, a total of $140 billion will be injected into the financial system. 

https://twitter.com/Cointelegraph/status/1838528975171125377

In turn, like all financial systems being connected, Bitcoin (BTC) price will likely be the first crypto to see the result of this financial move. This momentum will later seep into the greater crypto market and eventually lead to new ATHs from Bitcoin and across all altcoins in the space. 

Bitcoin (BTC) Trend Targets Shoot Higher

More importantly, this bullish news has come out just before Q4 which is expected to be incredibly bullish. So far, every Bitcoin Halving year has seen green Q4, even more so if September closes in green colors where historically it has been red in some cases. All in all, Q4 is expected to be bullish no matter how BTC closes in September. 

If Bitcoin closes above $59,000 in September, Q4 will be even more bullish than expected. Likewise, this stimulus package announcement reflects a similar bullish historical pattern. In previous stimulus package announcements, Bitcoin has always rallied by 100%. 

To elaborate, this stimulus is greater than any announced since the pandemic making the upcoming BTC rally to be expected to be even more bullish than ever. Many analysts debate the bull run price top to hit between $110,000 and $220,000 ATH for Bitcoin (BTC) this cycle.

The post $78,000 Bitcoin Trend Target Becomes a Possibility After $140 Billion Chinese Stimulus Package Announced appeared first on Crypto News Land.

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