BTC drops to near $20,000 after Fed Chair Powell’s speech

Bitcoin and other cryptocurrencies drifted lower as traders parsed comments from Federal Reserve Chairman Jerome Powell.

Over the past 24 hours, Bitcoin has dropped by 6.34% and is currently trading at $20,186. Ethereum, the 2nd largest coin in the market, also saw a drop of 11.15% and is now trading at $1,495.