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And we are seeing in the market what was announced, the necessary correction that I have been mentioning so much, to continue with the great rise. I hope you haven't started buying at overbought prices thanks to the many gurus who cited the beginning of altseason last week.
In any case, and although it sounds cliché, now we are indeed in a buying season, be smart and buckle up, since now we can know that even if the market falls a little more, it's just a matter of time for altseason; always keep in mind that the development of this phenomenon, we will see, although very soon, unexpectedly. Don't expect the market to give a warning, it will never happen.
Good luck to everyone and may our portfolios multiply in the coming weeks/months.
What is the NFP? * Non-Farm Payroll (NFP): It is a key economic indicator that measures the number of new jobs created in the United States, excluding the agricultural sector. * Importance: It is a highly followed indicator by investors as it reflects the health of the US economy and can influence the Federal Reserve's decisions on interest rates. How does the (NFP) affect cryptocurrencies? * Correlation: Although there is no direct and linear relationship, the (NFP) can influence the price of cryptocurrencies in several ways: * US dollar: If the (NFP) is better than expected, the dollar tends to strengthen. Since many cryptocurrencies are denominated in dollars, a stronger dollar can put downward pressure on cryptocurrency prices. * Market risk: A good (NFP) can indicate a strong and less volatile economy, which could cause investors to lean towards safer assets and away from cryptocurrencies, which are considered riskier. * Market Sentiment: Reactions to the (NFP) can influence overall market sentiment. A good (NFP) can create optimism, while a bad one can increase risk aversion. Why is it important to follow the #NFPCryptoImpact * Taking Deions: Understanding this relationship can help you make more informed decisions about your cryptocurrency investments. * Volatility: The NFP can be a contributing factor to the volatility of the cryptocurrency market. * Trading Opportunities: Some traders take advantage of reactions to the NFP to make short-term trades. Bottom Line: NFPCryptoImpact is a complex and dynamic topic. While there is no direct, predictable relationship, it is important to keep this indicator in mind when analyzing the cryptocurrency market. $BTC