What are the correlations between the non farm payrolls and cryptocurrency prices?

1 answers

• Feb 18, 2022 · 3 years ago
  At BYDFi, we have observed that the release of non farm payrolls data can have some impact on the cryptocurrency market. However, it is important to note that the correlation is not always consistent or predictable. The cryptocurrency market is highly speculative and influenced by a multitude of factors. While the non farm payrolls report can provide insights into the overall health of the economy, it is just one piece of the puzzle. Traders and investors in the cryptocurrency market should consider a wide range of factors and conduct thorough analysis before making any investment decisions based on the non farm payrolls data.
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