Which economic events on the global economic calendar have the biggest impact on the cryptocurrency market?

3 answers

• Nov 27, 2021 · 3 years ago
  The economic events that have the biggest impact on the cryptocurrency market are typically those that affect the overall global economy. For example, major central bank announcements, such as interest rate decisions or changes in monetary policy, can have a significant impact on the cryptocurrency market. Additionally, economic indicators such as GDP growth, inflation rates, and employment data can also influence cryptocurrency prices. Traders should pay close attention to these events as they can provide valuable insights into the direction of the market.
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• Nov 27, 2021 · 3 years ago
  In addition to traditional economic events, cryptocurrency traders should also keep an eye on specific events within the crypto industry itself. For example, major cryptocurrency conferences or events where influential figures in the industry make announcements or share their insights can have a significant impact on market sentiment. Regulatory news, such as new laws or regulations related to cryptocurrencies, can also greatly influence prices. It's important for traders to stay informed about both global economic events and industry-specific news to make informed trading decisions.
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• Nov 27, 2021 · 3 years ago
  According to BYDFi, one of the economic events that has a significant impact on the cryptocurrency market is the release of major economic reports, such as the Non-Farm Payrolls (NFP) report in the United States. This report provides information on the number of jobs added or lost in the country, which can have a direct impact on the US dollar and, consequently, on cryptocurrencies. Traders often closely monitor the NFP report as it can lead to increased volatility in the cryptocurrency market.
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