First of all I want to give a big greeting to all steemit friends and especially to the members of this wonderful community like PH. I want to share with all of you this post related to the Bitcoin price reacting and reaching a new value..
Despite the news of the Fed's new increase of 0.75%, the price of bitcoin has reached today over 21K , being this value the highest for several months , which brings many expectations for investors in the near future, as they see as many expectations the end of winter .
However this accelerated increase in the value in the market of the most important cryptocurrency is given by the news of rising unemployment which undoubtedly brings a contraction and decline in the economy and this generated an upward increase in demand for the application of risk assets, such as bitcoin and also happened with some Wall Street stocks.
Meanwhile, the reflected unemployment indicator oscillated between 0.2%, undoubtedly higher than expected by economists, being this indicator for large investors an excellent sign as it reaches the cryptocurrency a 3% gain in the day.
On the other hand, this situation occurs at a time when it was expected a less bullish outlook and with a lower indicator, however, large investors see this situation as an opportunity and trust in the medium-term recovery of the market to get a better profitability.
On the other hand, it is very important to keep in mind that this new value reached by bitcoin is not a trend, but it is important and significant that the market managed to react to the announcements to keep it in mind in the near future.