Analysts say record high inflation in the United States is impacting crypto market momentum, but is the impact of the data overstated to the detriment of investors?
Analysts and pundits will scramble to find some angle to explain intra-day price action whenever important economic numbers are published and this practice is commonplace in the crypto sector. When the United States Bureau of Labor Statistics reported a 7.5% increase in the Consumer Price Index (CPI) on Feb. 10, traders rushed to find some connection to the crypto price action. However, historical correlation data shows investors should actually closely scrutinize whether there is even a relation between Bitcoin (BTC) and major economic indicators. General investment advice would suggest that traders ignore the intraday movements, especially considering that most assets do not trade on a 24-hours basis. More importantly, Bitcoin’s order book depth pales in
We współpracy z: https://cointelegraph.com/news/here-s-why-bitcoin-traders-shouldn-t-overanalyze-us-inflation-data
