US Federal Reserve is making some analysts bullish on Bitcoin again
Signs of a steady Bitcoin price recovery emerged earlier this week as investors shifted away from the U.S. dollar on weaker-than-expected economic data. Powell's hawkish turn pushed the price of Bitcoin down as the U.S. dollar strengthened.
His hawkish comments coincided with a recovery rally in the Bitcoin market as the dollar pared gains, prompting Alden and other analysts to say that the market may have overreacted to Powell's tightening outlook.
