Bitcoin price fell below $ 20,000 after an unemployment report in the USA

On Friday, October 7, the quotes of the first cryptocurrency failed the level of $ 20,000 after the unemployment report in the USA. Over the past day, the asset has fallen in price by 2.5%, according to Coingeco.

At the time of writing, the price of bitcoin is held around $ 19,620.

According to the report, in September, unemployment amounted to 3.5% against the previous value of 3.7%. This is the minimum indicator since April 2021, but it surpassed the expectations of analysts.

Such data will force the Fed to take a more hawk position and increase the key rate by MetaMask and Asset 75 basic points.

In March, the Fed for the first time since 2018 increased the key rate to 0.25-0.5%. Local rally cryptocurrencies lasted until April – Bitcoin and Ethereum reached the annual maximums.

In May, Federal Reserve again raised the rate – by 50 b. P. Against the background of the news, the first cryptocurrency overcame $ 40,000, but on the same day it failed the level of $ 36,000, which was the beginning of a protracted correction.

In June, the department raised the key rate by 75 b at once. P. For the first time since 1994. The indicator reached the level of 1.5–1.75%, to which Bitcoin reacted with short -term growth to $ 22,000, and then collapsed below $ 18,000.

July raising rate to 2.25–2.5% led to the growth of the digital assets market. Bitcoin then overcame $ 22,000, and Ethereum – $ 1500.

At the end of summer, digital gold reacted to the performance of the head of the Fed Jerome Powell with a fall below the level of $ 21,000.

On September 21, Federal Reserve again raised the rate of bets by 75 b. P., up to 3-3.25%. The cryptocurrency market reacted with a fall.

Recall, ex-controling the Cramer Head Fund & Co. and the host of the Mad Money show on the CNBC channel Jim Kramer said that due to toughening the monetary policy, speculative instruments like digital assets will occur.

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