How does the closing of the forex market affect the trading volume of digital currencies?

3 answers

• Dec 28, 2021 · 3 years ago
  When the forex market closes, it can have a significant impact on the trading volume of digital currencies. This is because the forex market is one of the largest and most liquid markets in the world, and many traders use it as a benchmark for their trading decisions. When the forex market closes, it can lead to a decrease in overall trading activity, which can in turn affect the trading volume of digital currencies. However, it's important to note that the impact may vary depending on the specific digital currencies and the overall market conditions.
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• Dec 28, 2021 · 3 years ago
  The closing of the forex market can have both positive and negative effects on the trading volume of digital currencies. On one hand, it can lead to a decrease in trading volume as some traders may choose to exit the market or reduce their positions. On the other hand, it can also create opportunities for traders who specialize in digital currencies, as they may be able to take advantage of price discrepancies and increased volatility. Overall, the impact of the forex market closing on the trading volume of digital currencies is complex and can vary depending on various factors.
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• Dec 28, 2021 · 3 years ago
  From BYDFi's perspective, the closing of the forex market can have a significant impact on the trading volume of digital currencies. As a digital currency exchange, we often see an increase in trading volume during the forex market closing hours. This is because traders who are unable to trade forex during this time may turn to digital currencies as an alternative investment option. Additionally, the closing of the forex market can also lead to increased volatility in the digital currency market, which can attract more traders and contribute to higher trading volume.
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