Bitcoin price drops with Fed chairman's speech


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  • 7 months ago
  • Wrapped Bitcoin
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Bitcoin skyrocketed on August 26, as hopes rose that new US economic data will trigger a turnaround in Fed policy.
The move came as a surprise to Bitcoin, which faced selling pressure just hours ago as Fed Chairman Jerome Powell was expected to speak at Jackson Hole. A positive sign was the lower-than-expected Personal Consumption Price Index (PCE) data. Analysts, who approach the situation positively, defend the view that "inflation has already peaked in the USA", supported by the Consumer Price Index (CPI) data. Powell's statements that the increase in the interest rate may continue, as expected, had a negative impact on risky assets. According to Yahoo Finance data, while the S
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