Here is some information on this Bible passage. After remorseful Judas threw into the temple the betrayal price of 30 pieces of silver (if shekels, $66), the chief priests used the money to buy “the potter’s field to bury strangers.” (Matthew 27:3-10) The field came to be known as Akeldama, or “Field of Blood.” (Acts 1:18, 19; see AKELDAMA.) Since the fourth century C.E. this field has been identified with a location on the South slope of the Hinnom Valley, just before it joins the Kidron Valley. The expression “the potter’s field” does not specifically indicate whether the field was one simply owned by a potter or was called that because, at some point in its history, it was an area where potters pursued their craft. The latter, though, seems probable if the traditional site is correct. It would be near the Gate of the Potsherds (or “Gate of the Potters,” according to J. Simons in his footnote in Jerusalem in the Old Testament, Leiden, 1952, p. 230), mentioned in Jeremiah 19:1, 2. (Compare Jerimiah 18:2.) " Even in recent times the necessary raw material, clay, has been available in the vicinity. Also, making pottery required a good water supply, and the site was close to the spring at En-rogel and the Pool of Siloam as well as near such water as might be in the Hinnom Valley in the winter". Source: "Insight on the Scriptures, Volume II. Watchtower Bible and Tract Society.

I found this in a Watchtower from 9/15/1955 "...The order of the prophetic books, as received by the Jews in Matthew’s time, was Jeremiah, Ezekiel, Isaiah and the twelve minor prophets. It is so found in the Babylonian Talmud, also at present in the manuscripts of the French and German Jews. The Jewish Encyclopedia, under “Bible Canon,” shows that at one time Jeremiah preceded Ezekiel and Isaiah in the listing of the prophets and that it was later that Isaiah went ahead of Jeremiah. So in Matthew’s time Jeremiah stood first in the listing of the prophets, and since it was the practice of those times to call an entire division of the Bible by the name of the first book in that division, Matthew could say Jeremiah and mean the division that it headed, and which division included the book of Zechariah. Jesus showed that this was the practice, to call an entire division by the first book in that division, when he said, at Luke 24:44 (NW): “All the things written in the law of Moses and in the Prophets and Psalms about me must be fulfilled.” When he said Psalms he did not mean just that one book, but all the writings or Hagiographa, of which collection or division Psalms was the first book. And when Jesus said the Prophets he meant that entire division, but sometimes they used the name of the first book in that division to mean the whole section, and then the section would be called just Jeremiah. So in this sense Matthew could refer to Jeremiah and yet mean Zechariah’s words, since Zechariah’s prophecy was in the division that opened with the book of Jeremiah."

the area of the potters feild was also known at that time to be located in jherimias grotto.