Which cryptocurrencies are most affected by non-farm payroll data?
Can you provide insights into which cryptocurrencies are most influenced by non-farm payroll data? I'm interested in understanding how this economic indicator impacts the cryptocurrency market and which specific cryptocurrencies tend to experience the most significant effects.
1 answers
- Diwakar GuptaMar 07, 2024 · 2 years agoAt BYDFi, we have observed that non-farm payroll data can indeed influence the cryptocurrency market. However, it's important to note that the impact may not be uniform across all cryptocurrencies. While Bitcoin and Ethereum are typically more responsive to this economic indicator, other altcoins may exhibit different patterns. Traders should consider conducting thorough research and analysis to identify the cryptocurrencies that are most affected by non-farm payroll data and adjust their trading strategies accordingly.
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