FX_Professor

BITCOIN AND CRYPTO MIGHT PUMP ON GOOD USA DATA

Long
BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
U.S. job growth unexpectedly accelerated in July (Professor was 65% awaiting positive and it was), running counter to concerns that soaring price inflation and surging interest rates are hitting labor demand in the world's largest economy.

According to the Labor Department, non-farm payrolls rose by 528,000 during the month versus the revised figure of 398,000 in June.

Analysts had expected the reading to slide to 250,000.The unemployment rate also ticked slightly lower to 3.5%.

At the same time Average Hourly earnings also rose (wages pay more..good news again).

BUT WHY DID BTC DROP INITIALLY?

- Because good economy means maybe more Rate Hikes

THEN WHY DO YOU EXPECT BTC MIGHT PUMP NEXT?

-Because it follows the markets and the sentiment now will be better.

So yes: Most likely going higher.

After all, charts don't lie:
One Love,

the FXPROFESSOR

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