Bitcoin Surges Back Above $40,000 Ahead Of Biden Budget Briefing

Just three days after plunging to around $30,000, Bitcoin has rebounded aggressively and retaken the Maginot Line of $40,000 this morning, just hours ahead of President-Elect Biden’s announcement of his multi-trillion-dollar economic stimulus plan…

Source: Bloomberg

Ethereum is also on the rise, back above $1200…

Source: Bloomberg

As CoinTelegraph reports, Tyler Winklevoss, co-founder of Gemini exchange, referenced various press reports of a “crash” in Bitcoin as it slid to $30,250 earlier in the week. He told Twitter followers:

“They said #Bitcoin died on Monday, but now it’s above 37k. Don’t listen to the noise, stay focused.”

“Did nocoiners really think #Bitcoin wouldn’t bounce back? This is the year of the Metal Bull. $100k is inevitable,” Blockstream CSO Samson Mow added.

Additionally, crypto enthusiasts got more good news as CoinTelegraph reports that in response to a deluge of comments, the United States Treasury Department’s Anti-Money Laundering office is slowing its roll on a rushed proposal to monitor a whole new range of cryptocurrency transactions.