Crypto weekly wrap: Bitcoin to rise once it reaches $20,400, say experts

For Ethereum, which is scheduled to go for 'The Merge' on September 6, will likely break out of the $2,000 level before the event, experts suggest

The crypto market has been highly volatile since the Jackson Hole speech by US Federal Reserve chair Jerome Powell on August 26. The total market cap on cryptocurrencies fell below $1 trillion for the first time in over a month.

"The Fed chairman's comment on tightening the economy further led to fall in crypto markets, which were aligned with drops in Nasdaq and S&P 500," the CoinDCX research team told Business Standard.

Nasdaq composite index was down over 6 per cent, and S&P500 fell 5.5 per cent in the last week, market data showed.

On the other hand, Bitcoin, the