Which cryptocurrencies are most affected by US non-farm payroll dates?

3 answers

• Dec 26, 2021 · 3 years ago
  The release of US non-farm payroll data can have a significant impact on the cryptocurrency market. Cryptocurrencies that are most affected by these events are usually the ones with a higher correlation to traditional financial markets. Bitcoin, being the largest and most well-known cryptocurrency, tends to experience price movements during non-farm payroll releases. Other major cryptocurrencies like Ethereum and Ripple may also be influenced, but to a lesser extent. It's important to note that the impact can vary from one release to another, as it depends on various factors such as the overall market sentiment and the specific data released in the non-farm payroll report.
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• Dec 26, 2021 · 3 years ago
  US non-farm payroll dates can create volatility in the cryptocurrency market. Traders and investors closely monitor these events as they can provide insights into the health of the US economy. Cryptocurrencies with strong ties to the US market, such as those listed on US-based exchanges, are more likely to be affected. However, it's important to remember that correlation does not imply causation, and the relationship between non-farm payroll data and cryptocurrency price movements is complex. It's always recommended to do thorough research and analysis before making any investment decisions based on these events.
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• Dec 26, 2021 · 3 years ago
  At BYDFi, we have observed that cryptocurrencies with a high market capitalization and liquidity tend to be more affected by US non-farm payroll dates. Bitcoin, Ethereum, and Litecoin are among the cryptocurrencies that have shown significant price movements during these events. However, it's important to note that the impact can vary from one release to another, and it's always recommended to consider multiple factors when analyzing the potential impact of non-farm payroll data on cryptocurrency prices.
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