Fed Chair Jerome Powell’s Hawkish Comments Throw Some Cold Water on Crypto

The quotation of bitcoin (BTC) fell about 1.5% to $88,300 in the minutes following Powell’s comments. The price at press time had play ated a bit further to $88,000, down 3.2% over the past 24 hours. Ether (ETH) is down by a similar amount. The broader CoinDesk 20 Thesaurus, however, is up 0.5% over the same time frame. It’s being led by a 13% advance for Ripple’s (XRP), perhaps cheered by states from Securities and Exchange Commission Chair Gary Gensler which could be interpreted as his planning to quietly show a clean pair of heels his job in wake of the Trump victory.