People often disregard it when I tell them that the US economic data has both short and long-term effects on the price of Bitcoin, I'm glad that I am beginning to see others showing interest as well.
Actually, i believe that, Because things that happen in front of eyes are not ignorable like the effect of inflation, lower GDP, and less employment which will discourage the crypto users to take risk of investing their savings in the market as they are already bearing the bad economic conditions. As of today, one friend told me about selling his property to buy 1 BTC, he asked (consulted) with his father as his father has also good knowledge of the crypto industry. And his father replied, "Economy of our country is not in our favor and we can not sell our like savings (property value) on BTC and who knows if we buy it and it comes down and we have to face an emergency due to economic or any other natural events that require immediate money then we have to withdraw it in loss and i do not think we can bear the loss" so after hearing his words i agreed with him and there is also no doubt in his theory. As an accountant, his father measures all the possibilities and takes early precautions. No doubt, they may make money out of it but they are not willing to think about it ( why?) if someone spends 10 years of savings and invest in property and then sales the property to buy risky assets (it's not that risky but economy makes it harder) than obviously, nobody will give it a try.
Add these websites too,
CoinMarketCal, i think for better and quick infor about economic events can easily be get from country based calendars like
Trading Economics US Calendar,
FXStreet US Calendar, and
Econoday US Calendar.
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I must say my whole journey was a lie. because I never came to know about these websites like never think that they have economic Calendars. after reading your post i do a little research and i admit that its my laziness to not look for it. these are really good sites with valuable datasets.
No doubt News cycle has a great impact on the crypto industry and now i will observe the accuracy of these Economic Calendar websites too.