Like the traditional market, the crypto sector is aware of what will happen as of this Thursday in the United States, where the Jackson Hole symposium will take place.
Bitcoin seems to make a flat around US $ 113,000 This Wednesday, its lowest level in two weeks, according to Binance. The pressure on the main cryptocurrency of the world intensifies pending Jackson Hole symposium and of the intervention of the president of the Federal Reserve (Fed), Jerome Powellscheduled for Friday.
In that context, the leader cryptocurrency lows 0.6% to US $ 113,176, while Ethereum Go up 1.8% AU $ S4.276. In general, the crypto market rises 0.2%, according to Coingcko.
The rest of the Altcoins shows a slightly upward trend. The one that progresses is Chainlink (+4.7%), followed by Solarium (+1.6%) and Cardano (+1.6%).
Waiting for Powell’s speech
Investors are pending what will happen as of this Thursday in Wyoming, United States, Where the Jackson Hole symposium will be developed. The meeting that brings together central bankers, finance ministers, economists and investors It will have Powell as great protagonistwho will speak on Friday.
The markets are going to follow their words closely to see if the Fed holder will give indications about the organism’s next decisions, which It will have its next meeting in September to define the monetary policy of the United States.
However, it is likely that Powell opts for a moderate speech, avoiding advancing cuts in interest ratesa position that reduces market confidence and strengthens the bearish vision. Instead, if you advance a cut, the effect would be bullish.
Source: Ambito
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