Bitcoin price briefly loses $20K on 'bunch of nothing' Powell speech
Bitcoin could well sink below the $20,000 mark again, traders warn, with price targets now as low as $16,000. Bitcoin (BTC) analysts were keen to draw fresh price targets on Aug. 27 after the largest cryptocurrency briefly fell below $20,000.BTC/USD 1-hour candle chart (Bitstamp). Source: TradingViewSub-$20,000 BTC price targets stay in placeData from Cointelegraph Markets Pro and TradingView showed BTC/USD hitting $19,945 on Bitstamp the night after hawkish comments from the United States Federal Reserve. Intraday losses for the pair neared 9% and United States equities cratered over the....
Related News
A Jerome Powell speech on central bank digital currencies (CBDC) was enough to decouple Bitcoin from traditional asset markets. The benchmark cryptocurrency surged above $11,800 in the hours leading up to the Federal Reserve chairman’s cautious remarks on CBDCs at a panel organized by the International Monetary Fund. At 0900 ET Monday, BTC/USD underwent a speculative jump from $11,523 to $11,650. One hour later, when Mr. Powell started his speech, the pair rested. The next […]
Bitcoin price dropped about 5% to $20,822 after Federal Reserve Chairman Jerome Powell spoke at Jackson Hole, Wyoming, on Friday, stating that the central bank will “use its instruments decisively” and it will take time to combat inflation. Powell talked briefly during the event and discussed the significance of price stability. He stated that it is […]
On this "Fed Watch," the hosts discussed Tether FUD, Jerome Powell's latest speech and bitcoin price action.
On this "Fed Watch," the hosts discussed Tether FUD, Jerome Powell's latest speech and bitcoin price action. The post Tether, Powell Testimony And Bitcoin Hegemony appeared first on Bitcoin Magazine.
It is Monday. Bitcoin is holding above crucial technical support at $11,400. Meanwhile, its safe-haven rival, the US dollar, is experiencing a sharp decline. The inverse correlation between the two stark assets is visible all over again. Only this time, the catalyst that is driving them into different directions is a Jerome Powell speech on […]