Bitcoin, the largest market capitalization crypt, fell by 3.4% on Saturday to $1947.32, falling below $200,000 for the first time since July 14, which increased the fall from the beginning of the year to 57%.
Ethereum, in turn, fell by 5.5% to $1,471.41. The price of Solana and Avalanche dropped by 6.4% and 6.9% respectively.
So Bitcoin, along with other cryptivists, repeated the collapse of global stock markets in response to Jerome Powell's statement, which warned against premature easing of monetary policy; in his presentation in Jackson Hole at the annual economic symposium of the Federal Reserve Bank of Kansas City, Powell stated that the Fed should continue to raise the basic interest rate to curb inflation.
However, some analysts argue that the current situation opens the way for the purchase of crypthalates, for example, Mark Newton, the technical strategist Fundstrat pointed out in a note to investors that the fall on Friday is negative in the short term, but suggests an opportunity for purchase in early September,