Bitcoin rallied strongly after the previous two stimulus package announcements by the People's Bank of China.
Bitcoin (BTC) looks ready to undergo a substantial breakout toward $78,000 in the coming weeks, primarily due to price chart technicals and China’s latest economic stimulus.
On Sept. 24, the People’s Bank of China (PBOC) announced that it would inject around $140 billion of liquidity into the financial system by cutting the reserve requirement ratio (RRR) by 50 basis points.
The PBOC has lowered borrowing costs and eased property purchase rules to shore up its struggling real estate market and the wider economy.
