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Upcoming Jobs Report Could Help Bitcoin Reach All-Time Highs!

• The U.S. government recently seized over $215 million in bitcoin from the Silk Road dark web market, and there is set to be another $1 billion in BTC sold over the next year.
• The upcoming jobs report could have a big effect on the price of bitcoin, and analysts are hopeful that it will be high enough to cause a positive outcome for the asset.
• Technically, a pullback to the $27,000 level is likely to occur if consolidation continues much longer.

The Seized Bitcoin

The U.S. government recently seized more than $215 million in bitcoin from the Silk Road dark web market, started by Ross Ulbricht. While he may be behind bars, his enterprise continues to operate as though nothing has changed and it looks like there’s going to be another $1 billion in BTC sold over the next year. This could have huge effects on where bitcoin goes within the next 12 months according to FX Pro senior market analyst Alex Kuptsikevich.

The Upcoming Jobs Report

The annual jobs report will soon become available for all to read and give an idea of what state America’s economy is currently in; when jobs are added we can assume things are moving up, whereas lower job counts usually mean economic uncertainty is imminent. Many analysts hope that this report will bear positive outcomes for digital currencies like bitcoin and cause them to spike higher once released due to its potential impact on inflation and interest rates which remain high at present time.

Current Market Conditions

Assets like bitcoin and Ethereum continue to show signs of recovering from last year’s bearish conditions witnessed by traders and investors alike; however, bitcoin is stuck in local highs above which it has been unable consolidate since March 19th leading many people believe a pullback may occur if consolidation continues any longer..

Crypto Market Analyst’s View

Crypto market analyst Yuya Hasegawa of Bit Bank in Tokyo shared his thoughts stating that with concern for current US banking system stability combined with possibility of positive reactions towards Friday’s non-farm payrolls report should make investors consider opening long positions on crypto assets such as Bitcoin while they still can before prices rise too high again..

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