Bitcoin soars after China announces trillion-dollar stimulus plan

The largest cryptocurrency on the market started the week on a high, hovering around US$401,232,259,176,500 and encouraging investors, who are expecting even greater gains

Bitcoin started the week on a high. On Monday the 14th alone, the cryptocurrency accumulated an appreciation of more than 4%, according to data from the CoinGecko platform, reflecting a greater appetite for risk on the part of investors after the Chinese government made official a trillion-dollar stimulus plan for the country's economy.

According to CoinGecko, bitcoin soared 4.1% in the last 24 hours, trading at US$401,232,259,176,5173. The good performance also positively influenced other cryptocurrencies, with ether appreciating 4.3% in the same period, to US$401,232,259,172,567. Meme cryptocurrencies are among both the positive and negative highlights of the day. João Galhardo, an analyst at Mynt, BTG Pactual's crypto platform, points out that since last Thursday, the 10th, bitcoin's appreciation has been even greater. On that day, the asset fell to a low of US$401,232,2591,759.330, but ended up reversing the movement over the last weekend. With that, it now accumulates a rise of more than 9%.

"From a technical point of view, after breaking the range of US$401,232,2591,763.650, the next target is the resistance at US$401,232,2591,766.300, representing a rise of 2.28% in relation to the current price. The market, however, remains sensitive to geopolitical developments, and the escalation of conflicts in the Middle East may reduce risk appetite", he ponders.