Dismal Jobs Growth and Consumer Spending to Supercharge Bitcoin

Bitcoin bears have come out of hiding over the last few weeks as the number one cryptocurrency struggles to stay above $10,000.

Since the digital asset printed a 2019 high of $13,880 on June 26th, market participants started to feel jittery. In the last month, market sentiment has ranged from fear to extreme fear.

While bitcoin price action seems indecisive at best, it appears that the current economic climate is likely to impact the value of the dominant cryptocurrency. One analyst believes that the turbulence brought about by slowing jobs growth and consumer spending will be significantly favorable for bitcoin.

Reference: https://www.ccn.com/dismal-jobs-growth-and-consumer-spending-to-supercharge-bitcoin/

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Author: Neo Anderson

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