Bitcoin drops $500 after comments from Fed's Powell and SNB's Jordan

Bitcoin takes a sharp drop on massive volume to trade 1.35% lower on the day.
Comments from SNB's Jordan and Fed's Powell were not exactly a ringing endorsement of cryptocurrency.

Rajan Dhall, MSTA FX Daily

In comments earlier FOMC's Powell said the central banks are not missing out by not entering the digital currency space.

Interestingly the central banker did not rule it out. SNB's Jordan agree and said his country already have an efficient payment mechanism . When talking about Libra Powell commented saying Libra would need to be held to the highest standards and "Libra has a burden of proof to carry" says Powell

Author

Rajan Dhall, MSTA

FX Daily

Rajan Dhall is an experienced market analyst, who has been trading professionally since 2007 managing various funds producing exceptional returns.

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