#NFPCryptoImpact
US job data and its impact on crypto.
Hey everyone, there's important news this week! Job data (Non-Farm Payrolls - NFP).
The number of jobs in the US increased by 256,000 in December, much higher than expected, up from 212,000 in November.
The unemployment rate fell to 4.1%, lower than the estimated 4.2%.
The stock market and crypto reacted negatively to this news, due to concerns that the FED will not continue to cut interest rates and bond yields are rising. If today's job report in the United States is bad, the market may temporarily turn green but then will turn red as people worry about recession. Don't get it wrong, this is good news in the long term.
So the question is: Will the crypto market “rise” or “go down”? If this number is lower than expected, it could make the US Federal Reserve (Fed) reconsider raising interest rates. That could cause Bitcoin ($BTC ) and other crypto coins to explode, right? But if the number is higher than expected, crypto will likely face downward pressure.
What do you think? Will Bitcoin soar or plummet? Share your predictions in the comments below!