Bitcoin Holds $26,000 Ahead of Fed Chair's Speech.

August 25, 2023: The price of Bitcoin held steady at around $26,000 on Friday, ahead of a speech by Federal Reserve Chair Jerome Powell at the Jackson Hole Economic Symposium.

The world’s largest cryptocurrency has been volatile recently, falling below $25,000 earlier this week before recovering. The market is likely to be closely watching Powell’s speech for any clues about the Fed’s future monetary policy, which could significantly impact Bitcoin and other cryptocurrencies.

Other cryptocurrencies were mixed on Friday. Ethereum fell 1.8% to $1,640, while Solana and Polygon shed up to 5%.

Here are some actionable takeaways:

• Investors are likely to remain cautious ahead of Powell’s speech.
• The market could react negatively to any hawkish comments from Powell.
• Bitcoin is expected to remain volatile in the near term.