Analyst predicts Bitcoin's future price based on US job market data. Latest report shows decreased unemployment rate and significant job growth.
Quantitative analyst, Benjamin Cowen, suggests that the next Bitcoin (BTC) price movement depends on future reports of the US job market. He believes if the unemployment rate remains between 4.1 to 4.2 percent, Bitcoin could follow last year’s path and experience price increases in February and March. The latest job market report released on January 10 showed a decrease in the US unemployment rate to 4.1 percent in December, with the addition of 256,000 new jobs, far exceeding the 153,000 predictions. With Bitcoin currently trading at $104,000, it is at a critical point where labor market stability and signs of gradual decline in job market activities could create an optimal environment for price growth.
