How does the Nasdaq 100 average affect the value of digital currencies?

1 answers

• Dec 26, 2021 · 3 years ago
  As a representative of BYDFi, I can say that the Nasdaq 100 average can have an indirect influence on the value of digital currencies. When the Nasdaq 100 average is performing well, it can signal positive market sentiment and attract more investors to the overall market. This increased interest in the market can spill over to digital currencies, leading to increased demand and potentially higher prices. However, it's important to note that digital currencies are also influenced by other factors such as technological advancements, regulatory developments, and adoption rates. Therefore, while the Nasdaq 100 average can provide some insights, it should not be the sole basis for making investment decisions in digital currencies.
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