Bitcoin Price Prediction: BTC hits high of $116,000 after Powell's warnings in Jackson Hole - FedWatch signals 87% chance of a rate cut in September, while $112,000 is seen as key support.

Bitcoin Price Prediction: BTC hits high of $116,000 after Powell's warnings in Jackson Hole - FedWatch signals 87% chance of a rate cut in September, while $112,000 is seen as key support.

Bitcoin Price Prediction: Fresh Rise to $116,000 After Powell’s Jackson Hole Warning

In the last few days, the Bitcoin price experienced a significant increase and reached a high of $116,000. This price increase coincided with US Federal Reserve Chairman Jerome Powell's comments during the Jackson Hole Symposium. Powell expressed concerns about the current economic situation, which sparked an optimistic reaction from investors.

According to the FedWatch tool, there is currently an 87% chance that the Federal Reserve will cut interest rates in September. Such a move could provide a further boost to greater interest in cryptocurrencies like Bitcoin at an opportune time.

A key support area for Bitcoin is seen at $112,000. This level could be crucial to future price performance and plays a key role for investors hoping for the continued uptrend.

The combination of Powell's address and expectations of a possible rate cut shows that the cryptocurrency market is sensitive to economic news. Investors and analysts will continue to keep a close eye on developments in order to better assess the impact on the Bitcoin price and the entire crypto market.