The Bitcoin price wipes the daily gains, as the Federal Reserve Chairman Powell highlights

Bitcoin fluctuations returned today as the original rose to more than $ 8,500, but it decreased sharply after Jerome Powell, the head of the US Federal Reserve, ate the possible impact of definitions against China and other countries.

like I mentioned By CNBC, Powell said that the potential rush of imported goods to avoid increasing customs tariffs can weigh gross domestic product estimates.

He added that the US Central Bank may find itself in a difficult situation, and it is forced to choose between controlling inflation and supporting economic growth.

“If that will happen, we will think of how far the economy is from every goal, and the various time prospects that are likely to be expected to close these relevant gaps,” Powell pointed out.

The answer to a question after his statements, the Federal Reserve Corporation said that it is possible that the definitions, which may rise to 245 % in China, will transfer the central bank away from its goals of achieving a balance between inflation and ensuring full labor.

Powell also dealt with interest rates in the country, but he did not provide any clear indication of what will be the next step in the Federal Reserve. To date, the central bank has left them unchanged in two consecutive meetings this year, and Powell’s words have shattered more similar developments.

“At the present time, we are in a good position to wait for greater clarity before looking at any adjustments to our policy position.”

Bitcoin’s reaction was with immediate fluctuations to his comments. After declining to 83,000 dollars earlier today, the original regained a lot of land and exceeded $ 8,500.

However, it suddenly retreated after his comments made news, perhaps because of uncertainty not only about the impact of customs tariffs but also about interest rates.

The references also rose, as about $ 300 million were eliminated on a daily scale. The total number of broken traders exceeds 140,000.