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Fed ‘Uber Dovish’ Drives All-Time High Of S&P 500 As Analyst Calls For New Bitcoin Momentum Move By Cointelegraph

Fed ‘Uber dovish’ drives all-time high from S&P 500 as analyst calls for new Bitcoin momentum move

(BTC) made nearly $ 1,500 in less than an hour on Aug. 26 after a “super moderate” speech from Federal Reserve Chairman Jerome Powell.

1 hour candlestick chart (Bitstamp). Source: TradingView

Speech At the Jackson Hole Virtual Annual Symposium, Powell suggested that the Fed would begin reducing its asset purchases from the start of the Coronavirus pandemic.

Bitcoin supply impact metrics graph. Source: William Clemente / Twitter (NYSE 🙂