Bitcoin: Will It Go Boom or Bust? 🚀

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Now, listen here. This Bitcoin contraption, it’s currently goin’ through a spell of… well, what they call a “trend-shift.” Sounds mighty fancy for a digital doodad, don’t it? Seems everybody’s ears were perked up listenin’ to old Jerome Powell down at Jackson Hole, spouting off about jobs and tariffs. He hinted at maybe, just maybe, a rate cut come September – a notion that sends these crypto fellas into a flurry like chickens in a dust storm. Seems when Powell talks dovish, Bitcoin gets to dancin’. When he gets all stern and hawkish, well, let’s just say folks start sellin’ quicker than hotcakes. 🙄

How Powell’s Past Speeches Moved Bitcoin

The fella from the Federal Reserve admitted the American worker is startin’ to feel a bit pinched, which might mean lower interest rates sooner than later. But, he also warned that these tariffs are makin’ prices go all sorts of wonky. It’s like tryin’ to steer a wagon on a muddy road – gotta balance things just so. And wouldn’t you know, whatever Powell says seems to kick Bitcoin around like a tin can. Here’s the proof:

  • Jackson Hole 2022: Powell went all serious on inflation, and wouldn’t you know it, Bitcoin took a tumble, losin’ near 8% in a blink. Lost its pep, it did.
  • FOMC March 2023: Then he started talkin’ slow and easy about those rate hikes, and Bitcoin shot up 12% in a week! Like a scalded dog, it was.
  • Jackson Hole 2024: A cautious word here, a careful phrase there, and Bitcoin kinda just… sat there. Held its ground, though, ’round $25,000, before gettin’ back to climbin’ later.

Seems plain as the nose on your face, don’t it? Powell’s words are mighty powerful when it comes to Bitcoin’s ups and downs. A gentle nudge towards lower rates and folks start buyin’. A stern lecture and they scramble for the exits. His latest speech suggests he’s leanin’ towards the gentle nudge, seein’ risks to jobs and hintin’ at that September cut. Historically, that’s mighty good news for Bitcoin – folks tend to gamble a little more when things feel less precarious. 🤠

What’s Next for the Bitcoin Price Rally?

Now, Powell’s recent ramblings have put a temporary stay on Bitcoin’s downward spiral, which was testin’ a mighty important support level ’round $112,500. A little bounce to $117,500 shows folks still got a little faith in this here token, and the bulls ain’t quite given up yet. But they’re lookin’ a bit wobbly as the price hit some resistance. Might be another chance to buy, if you’re feelin’ lucky. 😉

As you can see in this fancy chart, Bitcoin’s been waltzin’ along inside a risin’ parallel channel – a lookin’ like a good sign, it does. After that bounce from the support, a steady climb seems possible. But there’s this thing called “supertrend”, it flipped bearish, and that’s givin’ some folks a case of the jitters. Still, that MACD thingamajig’s showin’ a possible bullish crossover, meanin’ less sellin’ pressure. If the price can just muscle its way past that resistance zone ‘tween $116,206 and $116,500, it might just break out.

But the real test will be gettin’ past that average band in the channel ’round $119,400. If it does that, well then, we might just be lookin’ at a whole new high, somethin’ around $126,600! Seems a bit far-fetched, don’t it? But then again, with Bitcoin, you never really know that’s for sure. 🤷

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2025-08-23 07:38