Editor's Note: With so much market volatility, stay on top of daily news! Get caught up in minutes with our speedy summary of today's must-read news and expert opinions. Sign up here!
(Kitco News) - The reservations that many had against being exposed to the market ahead of today’s Jackson Hole summit have proven to be well warranted as hawkish comments from Fed Chair Jerome Powell sent asset prices across global financial markets tumbling on Friday.
At the time of writing, the S&P 500 has fallen by 2.15% on the day, while the Dow and NASDAQ have declined by 1.85% and 2.57%, respectively, while the vast majority of cryptocurrencies in the top 100 are now in the red for the day.
Data from TradingView shows that the Bitcoin (BTC) price experienced a whipsaw effect following Powell’s comments, initially spiking from $21,130 to a daily high of $21,895, only to plummet by more than 6.22% to hit a daily low of $20,530.
This outcome was not entirely unexpected for Kitco Crypto readers,...
Your content is great. However, if any of the content contained herein violates any rights of yours, including those of copyright, please contact us immediately by e-mail at media[@]kissrpr.com.
INN caught up with cryptocurrency investment expert Dan Hoover to review the current landscape and where the market may be heading. The cryptocurrency investment marketplace has gone through severa...