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How did the non farm payroll dates in 2016 affect the digital currency market?

avatarcandy caneDec 26, 2021 · 3 years ago1 answers

Can you explain how the non farm payroll dates in 2016 had an impact on the digital currency market? What were the specific effects and how did it affect the prices and trading volumes of digital currencies?

How did the non farm payroll dates in 2016 affect the digital currency market?

1 answers

  • avatarDec 26, 2021 · 3 years ago
    At BYDFi, we observed that the non farm payroll dates in 2016 had a noticeable impact on the digital currency market. On dates when the non farm payroll report showed positive job growth, we saw increased trading activity and higher prices for digital currencies. This can be attributed to the positive economic outlook and increased investor confidence. Conversely, on dates when the report showed negative job growth, we observed a decrease in trading volumes and lower prices for digital currencies. It's important for traders and investors to stay informed about major economic events like the non farm payroll dates as they can have a significant impact on the digital currency market.