Bitcoin traded above $30,000 again as the market anticipated the May nonfarm payrolls release.whileBTCreturned to the green, butETHcontinued to trade; ETHcontinued to drop and is below $1,800 as of this writing.
Bitcoin
followed Thursday’s price drop andBTC turned green again on Friday as traders awaited the release of the nonfarm payrolls report.
After adding 428,000 jobs in April, the market is expecting 325,000 jobs to be added to the US economy in May.
Speculation about what this number means for the market is helpingBTCclimb in price today, reaching an intraday peak of $30,633.03.
This is less than 24 hours after some expected prices to move back toward support at $28,800 on rising bearish sentiment.
However, this sentiment eased somewhat, and today’s surge in prices helped lead to an upward crossover between the 10-day and 25-day moving averages.
Nevertheless, it will be interesting to see if bitcoin rises even higher today, as Friday’s peak is just at the $30,600 ceiling.
After moving below $1,900 on Thursday,ETH/USD continued to decline, falling to an intraday low of $1,789.66 earlier today.
This is about 1.3% lower than yesterday’s peak at $1,845.31, as prices continue to move closer to a new support point at $1,715.
Unlike Bitcoin, which rallied in today’s session,ETHhas yet to cross the two moving averages upward and considerable distance.
Some now think we may see a decline toward this floor of $1715, last hit on May 28, where the gap between the moving averages is narrowing and bulls will choose to enter.
At the time of writing,ETHis trading at $1795, but there is likely to be some more price movement as the NFP announcement approaches.
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