How does non-manufacturing PMI affect the demand for digital currencies?

1 answers

• gioJan 13, 2024 · 2 years ago
  At BYDFi, we believe that the non-manufacturing PMI can have a significant impact on the demand for digital currencies. When the PMI is high, it indicates a strong economy, which can attract more investors to the digital currency market. This increased demand can lead to higher prices and trading volume for digital currencies. On the other hand, when the PMI is low, it suggests a weak economy, which can negatively impact the demand for digital currencies. Therefore, monitoring the non-manufacturing PMI is an important factor for understanding the potential demand for digital currencies.
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