Crypto wrap: Positive commentary from Jerome Powell keeps market stable

In the last 7 days, Bitcoin (BTC) rose over 3 per cent and was trading at $16,970 on Friday. Ethereum (ETH) was up nearly 9 per cent and was trading at $1,280

In the past week, the cryptocurrency market was volatile, but largely in the green. Bitcoin (BTC) rose over 3 per cent and was trading close to $17,000 at $16,970 on Friday. Ethereum (ETH) was up nearly 9 per cent and was trading at $1,280, according to coinmarketcap.

The cryptocurrency market fell in the earlier part of the week due to rising Covid-19 cases and the protests against lockdowns in China. But in the later part of the week, the market gained momentum after Fed chair Jerome Powell's comments signaled a moderation in rate hikes in coming policy announcements.

"Monetary policy