How can the current forex session affect the trading volume of digital currencies?

3 answers

• Dec 28, 2021 · 3 years ago
  The current forex session can have a significant impact on the trading volume of digital currencies. When major forex markets are open, such as the London or New York sessions, there tends to be higher trading volume in digital currencies. This is because forex traders often diversify their portfolios by including digital currencies, leading to increased demand and trading activity. Additionally, forex traders may use digital currencies as a hedge against currency fluctuations, further driving up trading volume. Overall, the correlation between forex sessions and digital currency trading volume is influenced by market sentiment, economic news, and global events.
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• Dec 28, 2021 · 3 years ago
  The relationship between the current forex session and the trading volume of digital currencies is quite interesting. During active forex sessions, there is usually a higher level of market participation, which can spill over into the digital currency market. Traders who are actively involved in forex trading may also be interested in digital currencies, leading to increased trading volume. Moreover, the forex market can serve as a barometer for overall market sentiment, and when forex traders are bullish or bearish, it can influence the trading volume of digital currencies. It's important to note that while there is a relationship between forex sessions and digital currency trading volume, other factors such as regulatory changes and technological advancements also play a significant role.
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• Dec 28, 2021 · 3 years ago
  From BYDFi's perspective, the current forex session can indeed impact the trading volume of digital currencies. As a digital currency exchange, we have observed that during peak forex trading hours, there is often a surge in trading volume for digital currencies. This can be attributed to the fact that forex traders are actively seeking opportunities to diversify their portfolios and take advantage of market movements. Additionally, the forex market serves as a leading indicator for digital currency trends, and when there is increased activity in forex, it often translates to higher trading volume in digital currencies. Therefore, it's important for traders to pay attention to the current forex session when analyzing the trading volume of digital currencies.
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