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Breaking News: Coinbase Confirms DOJ Investigation Following Major Security Incident

Stimulus Checked: Here’s The ROI on a $1,200 Investment in Top Crypto Assets

Tony "The Bull" Severino
Tony "The Bull" Severino
1 year ago
2 mins read
crypto stimulus check bitcoin

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To soften the critical blow dealt by the coronavirus to the United States economy, the government issued stimulus checks on last month, and according to data, much of these stimulus checks made their way into Bitcoin and other crypto assets.

The boost in economic activity and spare cash may be partly responsible for the recent bullish price action, in addition to Bitcoin’s halving restoring interest to the space. Here’s what a $1,200 investment made with a stimulus check would have resulted in for ROI across top crypto assets.

Bitcoin Gets Boost From Stimulus Checks Coinciding With Supply Reduction

Markets reached local highs and even all-time highs across the stock market at the start of the year and into February 2020. But that’s about when the world truly learned of the impact the coronavirus would soon have.

Fear spread across the crypto market, causing a historic selloff now referred to as Black Thursday. Bitcoin crashed by over 60%, and the stock market set a record for the worst quarterly close ever recorded in the days following.

The only positive thing to come out of the pandemic – depending on your perspective – was stimulus checks.

Related Reading | One Week Away: Comparing Past Pre-Halving Bitcoin Price Action

Stimulus relief packages approved by Congress and the President started hitting bank accounts starting on Saturday, April 11, according to the IRS. As soon as these funds started hitting accounts, those that didn’t need to rely on it to cover bills or replace lost income suddenly found themselves with spare cash.

This spare cash made its way into Bitcoin, as was pointed out by a spike in BTC buy orders in the amount of $1,200 – the highest stimulus check awarded depending on income level.

The boost to the first-ever crypto asset could be partly responsible for the recent push to $10,000 that occurred this week.

Those who invested their $1,200 into BTC would now have $1,740 in USD equivalent.

Other Crypto Assets Bring Positive ROI for Relief Money Investors

Investing elsewhere in the crypto market would have provided similar results. Next in line, is Ethereum up by 34%. This would take the $1,200 stimulus check value and turned it into $1,608,

The lagging third-ranked crypto, XRP, is up 17%, turning that $1,200 into $1,404. Chainlink has set similar gains and ROI on that initial $1,200 invested. Tezos, another altcoin rockstar, is up 40% taking that investment to as high as $1,680.

Related Reading | Bitcoin Dominance Reversal At Key Level Points To Sustained Altcoin Rally 

Bitcoin, however, topped the list. This is likely due to more interest surrounding the asset’s halving. The event is just days away and will lower the BTC supply miners receive.

This is all happening while the US government is printing more and more supply of USD – an ironic perfect storm for crypto, that is currently absorbing much of the fresh USD being printed.

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Tony "The Bull" Severino
Tony "The Bull" Severino

Tony "The Bull" Severino

Tony "The Bull" Severino, CMT, is a distinguished figure in the cryptocurrency analysis sector, renowned for his in-depth technical expertise and innovative approach to market trends. As the Head of Research at NewsBTC, Tony leads a team dedicated to providing cutting-edge insights and forecasts, helping both novice and experienced traders navigate the complexities of the crypto market.
A seasoned Chartered Market Technician, Tony's prowess in identifying and capitalizing on market patterns is unmatched. His academic and professional journey in market analysis has firmly established him as a leading authority in technical trading strategies. Tony’s approach is heavily influenced by the principles of Elliott Wave Theory, a method known for its rigorous assessment of investor psychology and price movements.

Read more

Beyond his role at NewsBTC, Tony is the visionary founder of CoinChartist.io, an educational platform aimed at demystifying the nuances of cryptocurrency trading. CoinChartist.io serves as a valuable resource for traders seeking to enhance their technical analysis skills. The platform offers a range of learning tools and resources designed to empower traders with the knowledge to make informed trading decisions.

In addition to his educational initiatives, Tony is a prolific author and a dominant voice in the crypto community. He writes the CoinChartist VIP newsletter, a weekly dispatch that has become a staple among crypto enthusiasts, revered for its insightful analysis and actionable trading advice. This newsletter has consistently ranked as a best-seller on SubStack, boasting thousands of subscribers who rely on Tony’s expertise to guide their trading strategies.

Tony is also celebrated for his literary contributions to the field. He is the author of the highest-rated Crypto Trading Journal on Amazon.com, a testament to his ability to communicate complex trading concepts in an accessible manner. This journal is widely regarded as an essential tool for traders aiming to track their progress and refine their strategies.

Before his ascent in the financial analysis world, Tony honed his skills in journalism. His background in this field has endowed him with a unique ability to present intricate market dynamics in a clear and compelling manner, making his insights highly sought after by a broad audience that ranges from casual readers to professional traders.
His professional affiliations underscore his commitment to excellence and continuous learning. As a partner of Elliott Wave International and TradingView, Tony collaborates with other leading experts to enhance his knowledge and skills. His active membership in the CMT Association further aligns him with the highest standards of industry practices and ethics.

Tony’s nickname, "The Bull," aptly reflects his aggressive and optimistic outlook on the cryptocurrency markets. His forecasts often anticipate significant upturns, earning him a reputation for bullish predictions that have frequently led to lucrative outcomes for those who follow his advice.

In summary, Tony "The Bull" Severino, CMT, is more than just a technical analyst; he is a mentor, educator, and innovator whose influence in the cryptocurrency space continues to grow. His dedication to advancing the understanding of market forces and his commitment to providing high-quality, reliable analysis make him a pivotal figure in the world of cryptocurrency trading.

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Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

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