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Powell Effect Ends in One Day, Bitcoin Falls 0.29%Blockchain News(bitcoin) 2021. 8. 29. 09:01
Bitcoin, which rallied the day before due to the dovish remarks of Fed Chairman Jerome Powell, reversed its decline in just one day.
As of 7 am (Korean time) on the 29th , Bitcoin is recording $ 48,879, down 0.29 % from 24 hours ago on CoinMarketCap , a global coin market relay site.Wednesday Bitcoin is 10 000 for up to four 9283 dollars, the lowest 10 000 4 8499 was traded between the dollar. The day before, Bitcoin rallied on the dovish remarks of Fed Chairman Powell, but that momentum did not last more than a day. In a speech at the annual economic symposium Jackson Hole meeting yesterday, Chairman Powell said the US economy has reached a point where it doesn't need too much monetary policy support. "Like most Fed members, it's appropriate to start slowing down (tapering) this year's bond buying, " he said. However, he emphasized that reducing bond purchases does not mean that a rate hike is imminent. He said inflation was "firmly close to the Fed's 2% target, but still temporary." “There is still a long way to go to reach full employment,” he added. Immediately after his remarks were delivered, the three major indices of the New York Stock Exchange rose all at once, and as a result, Bitcoin soared by nearly 4%.bitcoin news
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