After spending the last five days trapped in the high $6,000 range, BitcoinBitcoin—for the second time in a month—has crossed the $7,000 threshold, giving traders new hope for a potential bull run. 

The price of Bitcoin is now up more than 5% in the last 24 hours, and other coins are likewise getting in on the action while the gettin’s good.

Bitcoin
BTC
+5.32%$107,948.86
24H7D1M1YMAX
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Price data by
BTC price

Ethereum—which surged into the low $170 range during today’s morning hours—is now up more than 11% on the day. Ripple’s XRP has improved by nearly 4%, and Litecoin is up by 6%.

Ethereum
ETH
+8.61%$2,455.26
24H7D1M1YMAX
Created with Highcharts 10.3.312:00PMJun 2312:00PMJun 2412:00PMJun 2512:00PMJun 2612:00PMJun 2712:00PMJun 2812:00PMJun 29$2200$2300$2400$2500$2100$2600
Price data by
ETH price

All in all, total market capitalization for cryptocurrencies has surged to $202 billion—a $15 billion increase from where it stood on Wednesday.

While not as stellar, the stock market is also showing signs of life with the Dow Jones ending today’s trading 33 points higher than yesterday’s close. The S&P 500 has also gained 16 additional points, while the NASDAQ surged by nearly 140 points.

The jumps follow news that President Trump will announce up-to-date guidelines later today on how the US economy can begin to reopen its doors, suggesting a nationwide recovery from the coronavirus pandemic may be closer than some initially thought.

A new proposal wants even more money to be handed out on a regular basis. Image: Shutterstock.

Democrats want to pay you $2,000 each month

Two Democrats have proposed a bill that, if passed, would send $2,000 each month to every American over 16 years old.  Called the "Emergency Money for the People Act,” the bill, which was introduced on Tuesday by Rep. Tim Ryan (D-Ohio) and Rep. Ro Khanna (D-Calif.) on Tuesday, would curb the economic fallout caused by the coronavirus pandemic that’s sweeping through the US.  American adults have been given $1,200 checks. But Democrats argue this isn't enough. Image: Shutterstock. The coronavirus...

NewsBusiness
2 min read
Robert Stevens

Trump said he’s looking to speak to US governors and will leave it up to individual states to decide when their economies can reopen for business. The president is confident some areas can potentially return to normal by the end of April, though some east coast regions—such as New York and New Jersey—are vowing to keep non-essential enterprises locked down through May 15.

Disclaimer

The views and opinions expressed by the author are for informational purposes only and do not constitute financial, investment, or other advice.

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