The day gained additional interest due to the statement by Jerome Powell, president of the Federal Reserve, at the Jackson Hole event.
He Bitcoin operates around the $26,000 this Friday, August 25, after moderating a rebound that led the leading cryptocurrency to reach the $26,500. This occurred within the framework of a day in which the expectation was placed on the statement of Jerome Powell, president of the Federal Reserve of the US (Fed), in the event of jackson hole.
Finally, Powell reaffirmed the possibility of ffuture interest rate increases before the end of the year, underscoring the Fed’s willingness to take “necessary measures”.
Meanwhile, in the larger picture of cryptocurrenciesother coins are experiencing downtrends. Solarium registered a decrease of 3.3% and Cardano fell 1.8%. For his part, XRP advanced a 1.4%.
Bitcoin: The Impact of Powell’s Speech
Experts in the field pointed out that the price of Bitcoin could face a pronounced decline after the statements of the president of the Federal Reserve. adopt an aggressive tone and reinforces expectations of future increases in interest rates.
At the moment, the cryptocurrency insignia is moderating its advance, although it is important to note that in recent days it has managed to recover from the falls registered the previous week, which led its value to touch even the $24,000 Dollars.
Market analysts believe that to reignite any signs of bullish momentum, the price of Bitcoin should recover the level of $27,750.
Source: Ambito
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