News > Bitcoin price jumps after Powell says US has no plans to ban crypto

Bitcoin price jumps after Powell says US has no plans to ban crypto

Bitcoin and other cryptocurrencies jumped suddenly Friday, a day after Federal Reserve Chairman Jerome Powell said the U.S. didn’t have plans to ban cryptocurrencies.

There was no obvious catalyst for the move upward in the notoriously volatile digital currencies, which happened early Friday morning. Some traders pointed to Mr. Powell’s comments to the House Financial Services Committee on Thursday and to the start of the fourth quarter on Friday.