Bitcoin, Ethereum, Dogecoin Drop After Jerome Powell's Comments On Future Rate Hikes: Analyst Sees King Crypto In Bull Market As Long As It Holds This Level
Portfolio Pulse from Mehab Qureshi
Major cryptocurrencies, including Bitcoin, Ethereum, and Dogecoin, experienced a drop in value following hawkish comments by Federal Reserve Chair Jerome Powell. The decline coincided with the Fed's announcement of a pause on interest rate hikes. Despite the short-term bear market, analyst Jason Pizzino believes that Bitcoin remains in a bull market as long as it stays above the $20,000 mark.
June 15, 2023 | 3:04 am
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NEGATIVE IMPACT
Bitcoin's value dropped below $25,000 for the first time since March 17, following hawkish comments by Fed Chair Jerome Powell. Analyst Jason Pizzino believes Bitcoin remains in a bull market as long as it stays above $20,000.
The drop in Bitcoin's value is directly linked to the hawkish comments by Fed Chair Jerome Powell and the announcement of a pause on interest rate hikes. This has caused uncertainty in the market, leading to a decline in the value of cryptocurrencies. However, analyst Jason Pizzino believes that as long as Bitcoin remains above the $20,000 mark, it is still in a bull market.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
Dogecoin's value dropped 3.17% following hawkish comments by Fed Chair Jerome Powell and the announcement of a pause on interest rate hikes.
The decline in Dogecoin's value is directly linked to the hawkish comments by Fed Chair Jerome Powell and the announcement of a pause on interest rate hikes. This has caused uncertainty in the market, leading to a decline in the value of cryptocurrencies.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 100
NEGATIVE IMPACT
Ethereum's value dropped 5.52% following hawkish comments by Fed Chair Jerome Powell and the announcement of a pause on interest rate hikes.
The decline in Ethereum's value is directly linked to the hawkish comments by Fed Chair Jerome Powell and the announcement of a pause on interest rate hikes. This has caused uncertainty in the market, leading to a decline in the value of cryptocurrencies.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 100