Here’s how Bitcoin could benefit from low numbers in the U.S. jobs report

As most countries recover from the “covid crisis”, the United States has shown significant growth and recovery since the start of the year. But according to the latest jobs report, the country is not following the announced recovery rates and is creating fewer jobs than expected, meaning the cryptocurrency market could reap unexpected benefits.

Role of the Jobs in Economics Report

One of the main indications of the macroeconomic situation of the country is the report on the current number of employers, unemployment rates and employment growth rates, all of which are compiled in one report. According to the report, institutions like the Federal Reserve are able to correct their current rhetorics and strategies.

A positive recovery in the labor market is also an indication for non-resident investors who are more likely to invest in the country’s economy if the labor market is growing. After the last report, we can expect a hike in the key rate and declining initiation.

How could Bitcoin and crypto benefit?

First of all, questionable employment statistics in the country have a direct impact on its national currency and have a negative impact on inflation. As investors see domestic currency inflation increasing, they tend to redistribute their funds in order to protect themselves from it.

Bitcoin and major altcoins sometimes become effective tools that investors add to their portfolios to increase volatility and add more diversity. While Bitcoin actively tracks the stock market in general, it can still hold more of its value due to its decentralized nature once the Fed initiates market shrinkage.

In February 2020, as traditional markets faced a massive 30-50% crash due to the introduction of the first covid restrictions, Bitcoin responded with 30% growth, indicating that the cryptocurrency can always remain an alternative means of preserving capital in times of crisis. in traditional financial markets.