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US Jobs Report Confirms What We Already Knew: Cryptocurrency Enthusiasts Will Believe Anything

News 1 Linda Williams October 7, 2024

An illustration depicting an enthusiastic cryptocurrency investor wearing rose-tinted glasses and holding a 'Uptober' sign, surrounded by balloons and confetti as they stand on top of a mountain range with a strong economy (represented by a bull) in the background.

The eternal optimism of cryptocurrency enthusiasts never ceases to amuse me. ‘Uptober’ this and ‘risk-positive environment’ that – it’s like they’re trying out for a role as the next crypto bro motivational speaker. Meanwhile, actual economists are over here thinking about real economic indicators, not just making stuff up because Bitcoin prices went up (which is what happened with Grayscale’s Zach Pandl). The US jobs report was strong? Whoop-de-doo! That means inflation might come back and interest rates won’t be cut as much. But hey, according to crypto bros, that’s a good thing for BTC – go figure.

Source: cointelegraph

US jobs report signals fewer rate cuts, still bullish for BTC: Grayscale
https://cointelegraph.com/news/us-jobs-report-fewer-rate-cuts-still-bullish-bitcoin-grayscale
The strong United States September jobs report signals a possible slowdown in interest rate cuts but is still bullish for Bitcoin (BTC) as investors warm to riskier assets, Zach Pandl, Grayscale’s head of research, told Cointelegraph. “Conversation about Fed rate cuts and debate about larger government deficits continue alongside solid economic growth, which should be net-positive for investors’ risk appetite and may reintroduce inflation risk in the medium-term,” Pandl said. […]

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About the author

Linda Williams

Linda’s venture into cryptocurrency ended in a gut-wrenching disaster when she lost her private keys due to a ridiculous mishap involving coffee and a particularly reckless cat. With her funds locked away forever, Linda now pours her frustration into writing biting critiques of crypto’s absurdities, dripping with sarcasm. Her tagline? “I lost my private keys and my sanity. Crypto promised freedom, but all it gave me was a lifetime of regret.”

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Disclaimer

The content presented on this site is intended solely for entertainment purposes and should not be taken as factual or reliable information. This site employs satire and humor to discuss global news, current events, finance, and cryptocurrency. The views expressed here are not meant to be taken seriously and do not represent the opinions of any individuals, organizations, or entities discussed.

Please be aware that the content may be exaggerated, fictionalized, or otherwise altered to create a comedic effect. It is not intended to provide financial advice, make accurate predictions, or offer any serious commentary on current events or financial markets.

Readers are encouraged to verify any claims or statements with credible sources and should not make any decisions based on the information provided here. This blog is not responsible for any actions taken based on its content. Always consult a qualified professional before making any financial or investment decisions.

Please do not hesitate to contact us if you have any questions or concerns.

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