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What are the implications of non-farm payrolls on cryptocurrency prices?

avatarRAHUL RAJNov 26, 2021 · 3 years ago1 answers

How does the release of non-farm payrolls data affect the prices of cryptocurrencies?

What are the implications of non-farm payrolls on cryptocurrency prices?
Cryptocurrency
Non-farm Payrolls
Market Impact

1 answers

  • avatarNov 26, 2021 · 3 years ago
    At BYDFi, we closely monitor the release of non-farm payrolls data and its potential impact on cryptocurrency prices. While there is no direct correlation between non-farm payrolls and cryptocurrency prices, we have observed that positive job growth can generally have a positive effect on investor sentiment, which can indirectly influence cryptocurrency prices. However, it is important to note that cryptocurrency markets are highly volatile and influenced by various factors, so it is crucial to conduct thorough research and analysis before making any investment decisions.

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