The price of bitcoin (BTC) initially slipped a few dollars on the hawkish lean to Powell’s remarks, but has since bounced to modestly positive on the day at $26,200. The move is perhaps not surprising given the bearish tilt to bitcoin’s price action in the days leading up to the Jackson Hole event as traders anticipated Powell’s continued focus on corralling inflation back to the central bank’s 2% target.
Related posts
-
An Introduction to Bitcoin Ordinals
Bitcoin Ordinals have emerged as a novel way to enhance the functionality and use of Bitcoin,... -
Robert Kiyosaki Frustrated by ‘Lame Excuses’ to Avoid Buying Bitcoin – Foresees Significant Price Rise
Rich Dad Poor Dad author Robert Kiyosaki has urged investors to buy bitcoin despite the cryptocurrency’s... -
Bernstein Analysts Revise Bitcoin Target, $200,000 And $1 Million Become Main Focus
Bernstein analysts Gautam Chhugani and Mahika Sapra recently revised their price targets for Bitcoin in their...