ISM Manufacturing surge fuels Bitcoin, crypto recovery hopes as index hits 2 year high
An important gauge measuring America’s factory sector just reached its strongest level in more than two years, and some cryptocurrency watchers believe this could mean better days ahead for Bitcoin, which currently sits around $78,000.
The Institute for Supply Management released numbers on Monday showing its Manufacturing Purchasing Managers’ Index climbed to 52.6 in January. That number crushed expectations, which had been hovering near 48.5, and marked the first time in over two years that the manufacturing sector showed growth instead of decline. The last 26 months had all registered contraction.
Analysts see potential Bitcoin turnaround
Investors and the Federal Reserve pay close attention to this measurement when making…
