• Here’s How Bitcoin Could Benefit From Low Job Openings in the United States

  • While most countries are still recovering from the “covid crisis,” the United States has shown significant growth and recovery since the beginning of the year. However, according to the most recent jobs report, the country is not keeping up with the stated recovery rates and is adding fewer jobs than expected, which means the cryptocurrency market may benefit unexpectedly.

    Jobs play an important role in economics.

    The report on the current number of employers, unemployment rates, and job growth rates, which are all compiled in one report, is one of the main indicators of the country’s macroeconomic status. Institutions such as the Federal Reserve, according to the report, are capable of correcting their current rhetoric and strategies.

    Positive job market recovery is also a sign for non-resident investors, who are more likely to invest in the country’s economy if the job market is improving. Following the release of the latest report, we can anticipate an increase in the key interest rate as well as the start of tapering.

    What are the potential benefits of Bitcoin and cryptocurrency?

    First and foremost, the country’s questionable job statistics have a direct impact on its national currency and have a negative impact on inflation. When investors see rising inflation in the national currency, they tend to redistribute their funds to hedge against it.

    Bitcoin and major altcoins can sometimes become effective tools that investors can use to increase volatility and diversify their portfolios. Though Bitcoin has been closely following the stock market in general, due to its decentralized nature, it may retain more of its value once the Fed begins to taper the market.

    Back in February 2020, when traditional markets experienced a massive 30-50 percent drop due to the implementation of the first covid restrictions, Bitcoin reacted with a 30 percent increase, indicating that cryptocurrency can still be used to preserve capital during periods of crisis on traditional financial markets.

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