Bitcoin Plunges Ahead of Powell’s Speech; Analyst Expects Further Dips

Bitcoin plunged lower as traders waited for Federal Reserve Chairman Jerome Powell to deliver his keynote address at the annual Jackson Hole meeting starting later today. The benchmark cryptocurrency plunged percent–a modest dip–to trade near $11,369. The move downhill came a day after BTC/USD had climbed above the $11,500-mark. So it appears, traders used the local tops to secure short-term profits, thereby leading the pair to lower levels ahead of the New York trading session Thursday. Much of uncert