On Thursday, August 26, at the end of the day, bitcoin fell in price against the dollar by 4.35%, to $ 46,843. This indistinct rebound of the BTCUSD pair can be explained by the expectations of the speech of the head of the US Federal Reserve Jerome Powell at the symposium in Jackson Hole today, at 17:00 Moscow time. Representatives of the American regulator James Bullard, Esther George and Robert Kaplan spoke in favor of reducing bond purchases of $120 billion per month. Bitcoin is a risky asset, so it will not be bought if there is an escape from risk in the currency and stock markets.
On Friday, August 27, during European trading, the value of bitcoin rose to $ 47794
Buyers have won back 50% of yesterday’s drop from $49352 to $46250, but they have not yet gained control over the situation. If the US dollar index (DXY) continues to fall today and will do it more confidently – 93.01 (-0.05%), then there will be a chance to close the day around $49350. In any case, Fed Chairman Jerome Powell will put an end to this week, who will determine the direction of the dollar for the next month with his speech.