1. Powell commented cryptocurrencies as "a speculative asset" which leaded to an adjustment in Bitcoin price but a rising trend in Gold
2. US President is considering spending $3 trillion on infrastructure in the States which draws investment capitals into the US stock market
Even there is an adjustment in the Bitcoin price these days but it is expected it will recover soon.
So what is the reasons Why bitcoin price increasing now? does these News reverse in happening?
and besides Biden is just Considering and not yet happening ..
When USA president considers something, that gets priced in the markets, there is no way that we could only trade after he confirms it, that would be too late and we would not make any profit, you take the risk and invest accordingly considering he will do it, if he doesn't do it you will lose money but if he does it you will make a great profit, that's how the market works, the early bird gets the worm.
I believe the news from USA government barely changes anything unless it's from someone famous, Powell could be a powerful person but the reality is that we are not going to end up with something that would matter to crypto market, we know who he is and we know is in a powerful position, we just do not care about it at all. This is basically an increase and a decrease all independent from what Powell might say. Biden on the other hand is president and what he says does matter.