The crypto market on Tuesday saw cautious optimism ahead of an annual key meeting of global central bankers known as the Jackson Hole Symposium, with prices of both bitcoin (BTC) and ethereum (ETH) climbing higher for the past 24 hours.
The Jackson Hole Symposium is scheduled to begin in Wyoming in the US this Thursday, with US Federal Reserve (Fed) chairman Jerome Powell expected to hold a closely watched speech about the economic outlook on Friday.
It is presumed that Powell will use his speech to further guide expectations on the Fed’s interest rate policy, with some predicting that Powell will once again take a more hawkish stance on monetary policy.
Among those who have warned about a hawkish Powell is David Duong, head of institutional research at Coinbase, who wrote in a recent market commentary that the Fed chair is likely to signal a need for continued interest rate hikes in the US.
“Jerome Powell will more likely try to take a more measured approach in Wyoming and...
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