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What are the correlations between the non farm payrolls and cryptocurrency prices?

Gary AbelsSep 20, 2021 · 4 years ago1 answers

Can the non farm payrolls data affect the prices of cryptocurrencies? Is there any correlation between the release of non farm payrolls and the movement of cryptocurrency prices? How does the non farm payrolls report impact the cryptocurrency market?

Non Farm Payrolls
Cryptocurrency Prices
Correlation

1 answers

  • Nguyễn HuẫnMay 24, 2024 · a year ago
    At BYDFi, we have observed that the release of non farm payrolls data can have some impact on the cryptocurrency market. However, it is important to note that the correlation is not always consistent or predictable. The cryptocurrency market is highly speculative and influenced by a multitude of factors. While the non farm payrolls report can provide insights into the overall health of the economy, it is just one piece of the puzzle. Traders and investors in the cryptocurrency market should consider a wide range of factors and conduct thorough analysis before making any investment decisions based on the non farm payrolls data.

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