Bitcoin, Ethereum, Dogecoin Drop After Powell's Dovish Comments: Trader Predicts King Crypto Soaring To $300,000
Portfolio Pulse from Mehab Qureshi
Major cryptocurrencies, including Bitcoin, Ethereum, and Dogecoin, experienced a drop after Federal Reserve Chair Jerome Powell hinted at curbing rate hikes due to stress in the banking sector. Crypto trader Tony Vays predicts Bitcoin could reach up to $300,000 in an extended bull market.
May 22, 2023 | 3:30 am
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NEUTRAL IMPACT
Dogecoin dropped 3.10% after Powell's comments, and its short-term price could be affected by overall market sentiment.
Dogecoin's price dropped after Powell's comments, but the overall market sentiment and its correlation with other cryptocurrencies could lead to a neutral short-term impact on its price.
CONFIDENCE 70
IMPORTANCE 60
RELEVANCE 80
NEUTRAL IMPACT
Ethereum dropped 1.06% after Powell's comments, but the overall market sentiment could still affect its short-term price.
Ethereum's price dropped after Powell's comments, but the overall market sentiment and its correlation with Bitcoin could lead to a neutral short-term impact on its price.
CONFIDENCE 70
IMPORTANCE 60
RELEVANCE 80
POSITIVE IMPACT
Bitcoin dropped 1.93% after Powell's comments, but trader Tony Vays predicts it could reach up to $300,000 in an extended bull market.
Bitcoin's price dropped after Powell's comments, but the prediction of a potential $300,000 value in an extended bull market could lead to increased investor interest and a positive short-term impact on its price.
CONFIDENCE 75
IMPORTANCE 80
RELEVANCE 100