- US Fed Chair Jerome Powell will speak on August 25th, 2023.
- With the U.S economy at center stage, many eyes will be on the address by the Fed chair.
The Federal Reserve Bank of Kansas City will host its annual Economic Policy Symposium (Jackson Hole Symposium) on August 24-26, 2023, at a time when de-dollarization fears are at an all-time high. Based on previous reactions to US Federal Reserve events over the last two years, it’s possible Bitcoin’s price may fluctuate significantly during the highly anticipated meeting.
Most recent news coverage has been on the probable geopolitical and economic effects of the Russia and Ukraine war and the possibility of the BRICS Group abandoning the USD in international trade deals. Many possibly long-lasting changes to the global economy will be discussed during the 2023 conference.
High Volatility Anticipated
US Fed Chair Jerome Powell will speak on August 25th, 2023. With the U.S economy at center stage, many eyes will be on the address by the Fed chair. Market players will be paying careful attention to his remarks about the Fed’s inflation objectives and the route he takes to achieve the 2% inflation rate target.
One more key figure, ECB President Christine Lagarde, will be speaking on the very same day as Powell. All eyes will be on the duo, as it may bring about an unpredictable and devastating outcome for not only the crypto market but also the conventional market.
Meanwhile, Bitcoin’s price has dropped back down to roughly the $26,000 level, wiping out almost all of the gains seen in the last 24 hours. Earlier today, the price briefly surged reaching $26,770 level. However, the price failed to maintain momentum. According to CMC, the price of Bitcoin is $26,004 and is down 2.12%.
