The importance of economic indicators for trade Bitcoin (BTC) **
In the world of cryptocurrency trade, Bitcoin (BTC) is one of the most frequently traded assets on online exchanges. The economic indicators to make well -founded decisions and increase their chances of success. Bitcoin and give them a comprehensive guide for use.
** What are economic indicators?
Economic indicators are statistical measures that describe the general health of an economy or market. They provide insights into factors such as inflation rate, interest rates, employment rates, GDP growth and more. The feeling of the market predicts price movements and identify potential trend reversations.
** Why are economic indicators important for trading Bitcoin?
Dealers who use Bitcoin for investment purposes must take a number of economic indicators into account if they make their decisions. Here are some reasons why:
- mood analysis : Economic indicators can reveal
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Important economic indicators for trading Bitcoin
Here are some important economic indicators that dealers use Bitcoin when trading:
- Inflation rate :
* Low inflation (less than 2%): stable market, low volatility
* High inflation (more than 5%): volatile market, potential for price correction
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* Lower interest rates: higher demand, higher prices
* Higher interest rates: lower demand, lower prices
- employment rate :
* Strong employment rate: optimistic market mood
* Weak employment rate: pessimistic market mood
- GDP growth
: GDP growth measures the rate with which the economy of a country is expanding.
* Strong GDP growth: increase in demand for Bitcoin, increase in prices
* Weak GDP growth: reduction in demand for Bitcoin, falling prices
How to use economic indicators when trading Bitcoin
Bitcoin:
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- Combine with basic analysis
: Use economic indicators in conjunction with basic analysis such as news and social media media feeling to form a more comprehensive view of the market.
Diploma
Bitcoin (BTC). The understanding and how to use them effectively, dealers