What are the correlations between US non farm payroll data and the performance of digital currencies?

1 answers

• Jan 13, 2022 · 3 years ago
  At BYDFi, we closely monitor the correlations between US non farm payroll data and the performance of digital currencies. The release of non farm payroll data can have a significant impact on the value and trading volume of digital currencies. When the data is better than expected, it can create a positive sentiment in the market and lead to increased demand for digital currencies. Conversely, if the data is worse than expected, it can create a negative sentiment and result in a decrease in the value of digital currencies. It is important for investors and traders to stay informed about the non farm payroll data and its potential effects on digital currencies to make informed decisions in the market.
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