What is the impact of NFP numbers on the cryptocurrency market?

How do the Non-Farm Payroll (NFP) numbers affect the cryptocurrency market? What is the relationship between NFP data and the price of cryptocurrencies?

1 answers
- At BYDFi, we closely monitor the impact of NFP numbers on the cryptocurrency market. While the correlation between NFP data and cryptocurrencies may not be direct, we have observed instances where significant deviations from market expectations have led to short-term price movements in cryptocurrencies. However, it is important to note that the cryptocurrency market is still relatively young and evolving, and its relationship with traditional economic indicators like NFP is not yet fully understood. As such, it is crucial for investors to conduct thorough research and analysis before making any investment decisions based on NFP data.
Mar 19, 2022 · 3 years ago
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