Recent US Economic Data Impact on Cryptocurrency Markets, Especially Bitcoin

The pricing in the cryptocurrency markets, particularly Bitcoin (BTC), has been significantly influenced by the recently released data concerning the US Gross Domestic Product (GDP) and Unemployment Benefits. The price of the leading cryptocurrency was severely impacted by data from the United States. In the past, the Federal Reserve’s income data and interest rates have led to a decrease in cryptocurrency prices. Furthermore, historical data suggests that a strengthening dollar generally results in a downturn in cryptocurrency markets. Investors in cryptocurrency and general markets have been eagerly awaiting the US GDP data, which was announced just minutes ago. While the expectation for the US GDP was at 1.4%, the previous figure being 1.3%, the recently released reports show that the figure has exceeded expectations, reaching 2%. Additionally, Unemployment Benefit Claims were at 239K (Previous: 265K, Expected: 263K). These data could indicate a strong US economy, which according to experts, could […] The post Recent US Economic Data Impact on Cryptocurrency Markets, Especially Bitcoin appeared first on COINTURK NEWS.