Which cryptocurrencies are most affected by NFP week?

3 answers

• Dec 27, 2021 · 3 years ago
  During the NFP week, cryptocurrencies like Bitcoin, Ethereum, and Ripple tend to be the most affected. The NFP report, which provides data on employment in the United States, has a significant impact on the global financial markets. As cryptocurrencies are closely tied to market sentiment, any major changes in the job market can lead to increased volatility in the crypto market. Traders and investors closely monitor the NFP report to gauge the overall health of the economy and make informed decisions regarding their cryptocurrency investments.
  549275
• Dec 27, 2021 · 3 years ago
  The NFP week can have a substantial impact on the cryptocurrency market. Cryptocurrencies with strong ties to the US economy, such as Bitcoin and Ethereum, are more likely to be affected. This is because the NFP report reflects the employment situation in the US, which is a key driver of economic growth. Additionally, cryptocurrencies with a large market capitalization and high trading volume are also more susceptible to NFP-related fluctuations. Traders should keep a close eye on the NFP report and consider its potential impact on their cryptocurrency holdings.
  568190
• Dec 27, 2021 · 3 years ago
  BYDFi, a leading cryptocurrency exchange, has observed that during the NFP week, Bitcoin and Ethereum experience the most significant price movements. This is due to the fact that these cryptocurrencies are widely recognized as the market leaders and are often used as a benchmark for the overall cryptocurrency market. Traders and investors should be prepared for increased volatility during this period and consider implementing risk management strategies to protect their investments.
  487122