Bitcoin Looks great; Stocks, Not So Much
We might see some nice movement in the Bitcoin price heading into this weekend; for those in stocks, can’t say as much:
Bitcoin price overcomes $50K, stocks slide after disappointing US jobs report
The S&P 500 slid to the intraday highs of Sept. 2 while Bitcoin (BTC) climbed to its highest levels in more than three months. The moves came as a key report on Sept. 3 showed that the United States economy added fewer jobs than anticipated, lowering the Federal Reserve’s likelihood to start unwinding its stimulus program this year.
The U.S. Bureau of Labor Statistics revealed that nonfarm payrolls (NFPs) grew by 235,000 in August, against expectations of 733,000 positions. Nevertheless, the unemployment rate inched lower to 5.2% from the previous month’s 5.4%.