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How does the release of NFP news affect the cryptocurrency market?

avatarLane HessDec 25, 2021 · 3 years ago1 answers

What is the impact of the release of Non-Farm Payroll (NFP) news on the cryptocurrency market?

How does the release of NFP news affect the cryptocurrency market?

1 answers

  • avatarDec 25, 2021 · 3 years ago
    At BYDFi, we closely monitor the impact of NFP news on the cryptocurrency market. The release of NFP data can create volatility and opportunities for traders. Positive NFP data can lead to increased buying pressure on cryptocurrencies, while negative data can result in selling pressure. Traders should pay attention to the actual NFP figures, as well as the market's reaction to the news. It's important to note that the impact of NFP news may not be immediate and can take time to fully manifest in the cryptocurrency market. As always, it's crucial to conduct thorough research and analysis before making any trading decisions based on NFP news.