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Topic: Unemployment Rate FELL, But why is the market going DOWN too?? - page 2. (Read 241 times)

legendary
Activity: 1596
Merit: 1288

But why is the market responding negatively? because when the news was announced, a few minutes later the price of BTC actually dropped by about 3%

What I can confirm:

  • Changing from 3.7 to 3.5 is not considered significant, and therefore is not considered a positive indicator for the economy.
  • Continuation of monetary policy and the rise in interest equations that will make the expansion of the economy discouraging.
  • Energy problems and the temptation of high interest.
  • Decline in the unemployment rate should be an indicator globally and in several countries to indicate the end of the recession.


What I can confirm is that there is no direct correlation between the bitcoin price and macroeconomic indicators.
legendary
Activity: 2380
Merit: 5213
The interest rate is still expected to be increased by another 75 basis points and that's affecting the markets negatively.
Also, the inflation rate is going to be updated on October 13. Usually, with decrease in unemployment rate, inflation rate increases and that's not a good sign for the markets.
legendary
Activity: 3542
Merit: 1965
Leading Crypto Sports Betting & Casino Platform
There are not ALWAYS a direct correlation to the global BTC price and some small announcement about the unemployment statistics in the US. Yes, some mayor announcement will influence the price, but these smaller announcements hardly make an impact.

There are BTC Whales and large mine owners that are manipulating the BTC price, so these small announcements will simply be swept over with some small sell and or buy orders.  Huh Roll Eyes  In any way..... a lot of the statistics are not an actual indication of what is happening in many countries.. because that is manipulated too...  Angry
newbie
Activity: 62
Merit: 0
Hello guys,

Yesterday, October 7 at 12.30 (GMT Time), the US government announced that the unemployment rate had fallen to 3.5% from 3.7% in the previous month.

And that's good news, because it signals that the economy is getting better, with lots of job openings.

But why is the market responding negatively? because when the news was announced, a few minutes later the price of BTC actually dropped by about 3%

https://i.ibb.co/Fn5YKcC/BTC.jpg
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