Bitcoin, Ethereum, Dogecoin Trade Mixed As Investors Digest Powell's Hawkish Remarks: Analyst Warning On ETF Approval — 'The Biggest Discount Of All Time, Or Sh*t News'
Portfolio Pulse from Mehab Qureshi
Major cryptocurrencies traded mixed following Federal Reserve Chair Jerome Powell's hawkish remarks on potential future increase in interest rates. Bitcoin, Ethereum, and Dogecoin saw slight changes in their prices. The global crypto market capitalization stands at $1.05 trillion, a 0.17% decrease in the last day. Analysts warn of potential impact on Bitcoin prices if a Bitcoin ETF is approved or denied.
August 28, 2023 | 2:31 am
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POSITIVE IMPACT
Ethereum price showed a slight increase following Powell's remarks.
Ethereum's price showed a slight increase following Powell's hawkish remarks. The overall impact of these remarks on Ethereum's price is yet to be seen.
CONFIDENCE 70
IMPORTANCE 60
RELEVANCE 50
NEUTRAL IMPACT
Bitcoin price may be impacted by the potential approval or denial of a Bitcoin ETF.
The potential approval or denial of a Bitcoin ETF could lead to significant price movements. If approved, sellers may view this as an opportunity to offload their BTC holdings. If denied, prices could plummet.
CONFIDENCE 70
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
Dogecoin price showed a slight decrease following Powell's remarks.
Dogecoin's price showed a slight decrease following Powell's hawkish remarks. The overall impact of these remarks on Dogecoin's price is yet to be seen.
CONFIDENCE 70
IMPORTANCE 60
RELEVANCE 50