JAKARTA - The Financial Expert of Crypto, Panji Yudha, sees several factors that will affect the movement of crypto assets in 2024. One of them is the release of a non-farm wage report (NFP) by the US Bureau of Labor Statistics.
The NFP report is planned to be released on January 5, 2024. This report will reveal that employment in the US in December 2023 is predicted to grow lower to 163,000 from November 2023 of 199,000.
According to Panji, if the release is higher than market expectations, it will have a negative impact on Bitcoin, and vice versa.
"On the other hand, if appropriate or under market expectations, it will have a positive impact on Bitcoin," Panji explained in a statement.
Meanwhile, January 10 is the nearest deadline for the SEC to approve, reject or delay the decision to issue a Bitcoin spot ETF.
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"Crypto market volatility will increase ahead of the SEC's decision on the spot's Bitcoin ETF, so market participants hope to remain vigilant in anticipating changes in the price of Crypto Assets," he explained further.
For this reason, Panji predicts the short-term potential of this is, the possibility of sell on the news'' or making sales after the publication of news about decisions related to the ETF Bitcoin spot.
However, Bitcoin's long-term perspective is more promising, supported by Bitcoin halving sentiment that will occur in April 2024 and driven by the potential of the US Central Bank to cut its benchmark interest rate in the FOMC in March 2024.
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