Bitcoin and USD Weakness

Following a pessimistic report by Federal Reserve Board of Governors Jerome Powell at the Jackson Hall Symposium at the end of last month, Jobs’ report has historically influenced the strong dollar and rising Bitcoin prices in the foreign exchange market. I did. This may indicate that Bitcoin will become more popular as the dollar falls.
Economist Jens Nordvig, founder of research firm Exante Data, said:
Cryptocurrencies have historically not correlated with the movement of the US dollar, but bad economic news from US Bitcoin, such as when digital assets declined in the traditional US market, such as March 2020. I have sunk.
Joel Kluger, market strategist at the institutional cryptocurrency exchange LMAX Digital, said:
During the pandemic, price fluctuations in assets to key economic indicators were much more difficult, Nordvig said. “I think these correlations are starting, but they’re not strong yet,” Nordvig said. “I think they will get stronger as financial institutions enter the market.”