Payrolls-Led Bitcoin, Ether Price Swoon Is 'Buy the Dip' Opportunity, Crypto Trading Firm Says

Payrolls-Led Bitcoin, Ether Price Swoon Is ‘Buy the Dip’ Opportunity, Crypto Trading Firm Says


BTC, ETH’s post-payrolls report price drop is a good opportunity to buy the dip, QCP said. The Fed will find it difficult to ignore G7 interest-rate cuts, the trading firm added.

Bitcoin (BTC) and ether (ETH) have lost steam since Friday’s hotter-than-expected U.S. jobs data damped hopes for a Federal Reserve interest-rate cut in September.

The post-report price swoon in the two largest cryptocurrencies offers a good opportunity to pick up bargains, according to QCP Capital, a Singapore-based trading firm.

Friday’s non-farm payrolls data showed the U.S. economy added 272,000 jobs in May, way more than the 185,000 estimated and

Trending: Megachurch pastor steps down over ‘secret sin’

Continue reading


 

Join the conversation!

Please share your thoughts about this article below. We value your opinions, and would love to see you add to the discussion!