The American job figures are today in the spotlight with the publication of the Nonfarm Payrolls (NFP) report and the unemployment figures. These monthly figures can exert considerable influence on the cryptomarket, because they can give an indication of the health of the US economy and thus send the interest rate policy of the Federal Reserve (FED). Strikingly enough, Bitcoin (BTC) seems to be in a win-win situation.
A strong job report
If the report is strong, where employment is better than expected, this can cause the interest to remain stable or even increased (which is bad for risky assets such as crypto). The economy is then strong. But: the recent implementation of global rates by Trump has shaken the markets. This allows investors to ignore a strong report, because it does not yet take the economic impact of these new rates into account.
A weak job report
Weak figures fuel the fear of a recession, of course not good news for the average American. But for investors it means something completely different: a greater chance that the Fed will quickly lower interest rates. And as we know, lower interest rates make investing in alternative assets such as Bitcoin a lot more attractive.
Bitcoin Process expectations
So it remains exciting until the job report will soon be published at 2:30 pm Dutch time. Only then do we really get to see some movement in the BTC course. Yet there is not only optimism from the market. Although we can experience a revival in the short term, analysts warn of possible decreases in the medium term. The ongoing uncertainty about Trump’s economic policy is like a dark cloud above the market.
Charles Edwards, founder of Capriole Investments, even warns of a decrease of up to $ 71,000. With the current price of around $ 83,000, this would mean a significant decrease of almost 15%.
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Source: https://newsbit.nl/belangrijke-amerikaanse-banencijfers-vandaag-wat-betekent-voor-bitcoin/
