What Does the Fed's Meeting in Jackson Hole Mean for Bitcoin?

Last week, Bitcoin (CRYPTO: BTC) fell 10%, its biggest drop in two months. That has led to increasing speculation that Bitcoin might fall below $20,000 as part of an ongoing bear market correction. And Bitcoin super-bear Peter Schiff has even suggested that Bitcoin might crash to $10,000. 

So Bitcoin investors are understandably keeping a careful eye on the Federal Reserve's 45th annual economic symposium in Jackson Hole, Wyoming, this week. They will be looking for hints about what might come next from policy makers. Any dramatic change in policy from the Fed could send the price of Bitcoin up or down significantly.

One important point to keep in mind is that Jackson Hole is not a policy-setting event. Instead, it's mainly an academic conference where 120 of the world's top central bankers, economists, and policy makers gather to discuss important economic trends and issues. Typically, less than half of the attendees are actually central bankers. The theme of this year's event is, "Reassessing Constraints on the Economy and Policy."

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Source Fool.com