Recently, bitcoin has once again attracted the attention of investors as its price has started to rise again. New JOLTS data and a weak dollar may help the cryptocurrency cross the $30 thousand barrier.
New JOLTS data
In March 2023, the US released new data from the Job Openings and Labor Turnover Survey (JOLTS). According to the study, the number of job openings in the US increased to 7.4 million, which is a new record. This may be a positive signal for the cryptocurrency market as there is an increase in demand for labor.
Another factor that could support bitcoin’s growth is the weakness of the dollar. In March 2023, the dollar index fell to a level not seen since the end of 2021. This increases the price of cryptocurrencies as the demand for alternative currencies decreases.
Bitcoin’s path to $30 thousand.
These factors may contribute to the growth of bitcoin to $30 thousand. In addition, the demand for cryptocurrency is growing in other countries, which may also affect its price. Technical factors, such as support at $25 thousand, should also be taken into account.
However, you should be careful, as there are risks of losing money in cryptocurrencies. It is known that cryptocurrency prices are highly volatile and can suddenly drop, which can lead to large losses for investors.
It is also necessary to pay attention to regulatory risks, as some countries may adopt legislation restricting the use of cryptocurrencies. This may affect their popularity and price.
In general, the new JOLTS data and the weak dollar could be positive factors for the growth of the bitcoin price. However, investors should be cautious and take into account possible risks. In addition, it is important to remember that cryptocurrency prices are highly volatile and it is necessary to have some risk capital to invest in them.