All Jerome Powell's 2021 speeches effects on BTCUSD
January 14th. 2021
The possibility of inflation staying higher than the 2% goal increased the fear among investors. After the speech, BTC's price dropped around 26% on the following days.
February 10th, 2021
The unemployment rate way higher than expected, 6,9%, demanded more intervention from the US government. BTC price rose close to 30% after the speech in the following couple of weeks
March 4th, 2021
The announcement of the additional $120 billion monthly bond purchases gave some clarity on the market recovery. BTC rose around 28% on the following week
March 18th, 2021
FED assures near-zero rates until 2023. BTC price dropped 6% before the following speech
March 22nd, 2021
Powell refers to BTC as “not really useful as a store of value.” The BTC price plunges another 6% in the following days but recovers and resumes the bull run.
April 8th. 2021
The same week of the speech, Biden proposal of 2.3 trillion infrastructure package to help lower the unemployment rate. BTC price roses more than 10%, hitting an all-time high of $65.000, then see a sharp drop in the following weeks
May 3rd, 2021
Despite the more apparent signs of the market recovery, the same is slower for low-income workers. BTC dropped another 6% in a single day, recovering in the next. In the same week, it local tops again, then start to go downward in the most significant drop in BTC history, more than 50%
June 4th, 2021
The fear of inflations ended up being correct after the rates were presented higher than expected and last more than usual. BTC price tanks again with a 15% drop, followed by a slight recovery to $40k in the next week
The possibility of inflation staying higher than the 2% goal increased the fear among investors. After the speech, BTC's price dropped around 26% on the following days.
February 10th, 2021
The unemployment rate way higher than expected, 6,9%, demanded more intervention from the US government. BTC price rose close to 30% after the speech in the following couple of weeks
March 4th, 2021
The announcement of the additional $120 billion monthly bond purchases gave some clarity on the market recovery. BTC rose around 28% on the following week
March 18th, 2021
FED assures near-zero rates until 2023. BTC price dropped 6% before the following speech
March 22nd, 2021
Powell refers to BTC as “not really useful as a store of value.” The BTC price plunges another 6% in the following days but recovers and resumes the bull run.
April 8th. 2021
The same week of the speech, Biden proposal of 2.3 trillion infrastructure package to help lower the unemployment rate. BTC price roses more than 10%, hitting an all-time high of $65.000, then see a sharp drop in the following weeks
May 3rd, 2021
Despite the more apparent signs of the market recovery, the same is slower for low-income workers. BTC dropped another 6% in a single day, recovering in the next. In the same week, it local tops again, then start to go downward in the most significant drop in BTC history, more than 50%
June 4th, 2021
The fear of inflations ended up being correct after the rates were presented higher than expected and last more than usual. BTC price tanks again with a 15% drop, followed by a slight recovery to $40k in the next week