Bitcoin Hits $17,000 After US Jobs Report

After the US Department of Labor published a press release with employment statistics for their population, it became clear that expectations were somewhat less than what the statistics turned out to be in reality. The positive rate of job openings in December allowed bitcoin to rise slightly.

At the moment, the unemployment rate in the United States is at a historic low. If in November the number of unemployed in America was 3.7%, then in December this mark fell to 3.5%.

Experts from Bloomberg expected 200,000 jobs to appear in the US in the last month of 2022. The US Department of Labor reported that this number has passed the 200,000 mark.

For the entire 2022, America was able to fill about 4,500,000 new jobs. This result is below what the US showed in 2021. 2 years ago, the strongest economic country in the world was recovering from the COVID-19 epidemic, which turned out to be devastating in 2020.

February 2022 was the best month of the past year. Then more than 700,000 jobs were added. December, in turn, had the worst indicator, despite the fact that its results were higher than expected.

Although the growth of bitcoin cannot be called particularly tangible and it has grown by only $150 over the past day, the price of the flagship digital asset reacted positively to this news and allowed BTC to reach the level of $17,000. The last time bitcoin was at this level was December 16 last year. After the bounce, BTC corrected to $16,950 and is still falling short of the next milestone.

If earlier the economic news of the whole world and the United States in particular did not correlate with the behavior in the cryptocurrency market, now things are changing and making digital assets more and more similar to what we can observe with the ordinary stock market.