BRN Analyst: Fed Chairman's Speech at Jackson Hole Conference May Lead to Increased BTC Price Volatility

The price of bitcoin has moved slightly lower over the past 24 hours despite a general rise in U.S. stocks ahead of Federal Reserve Chairman Jerome Powell's speech at the Jackson Hole conference later this week, according to The Block. Over the past 24 hours, the price of bitcoin has fallen nearly 3 percent to trade at around $58,500.

BRN analyst Valentin Fournier said that the upcoming conference in Jackson Hole could lead to increased volatility in the bitcoin price, and that bitcoin's volatility could rise over the next few days or a week as the market waits for further news from the Federal Reserve at the Jackson Hole Symposium, as well as macroeconomic indicators.