Bitcoin Price Prediction: BTC Jumps 2% As Jerome Powell Confirms No Rate Hike And Investors Pivot To This Next Gen Wallet ICO That’s Raised $8.6M
The Bitcoin price has jumped over 2% in the last 24 hours to trade at $105,305 as of 3:30 a.m. EST on a 23% pump in trading volume to $52 billion. This surge in the BTC price comes as Federal Reserve Chair Jerome Powell signaled that the central bank is likely to lower its key interest rate soon, citing slower economic growth and cooling inflation. NEW: 🇺🇸 Fed Chair Jerome Powell says "it's unlikely the next rate move will be a hike." Send it…🚀 pic.twitter.com/eLhLdCX2w6 — Radar 𝘸 Archie🚨 (@RadarHits) May 1, 2024 Speaking at the Fed’s annual summit in Jackson Hole, Wyoming, Powell emphasized that the time has come for policy to adjust. His remarks align with recent indicators of reduced price growth, a softening labor market, and weaker borrowing demand compared to pre-pandemic levels. Bitcoin Price Continues To Trade Sideways The BTC price is encountering resistance in the $105,000-$106,000 range, whe...