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How does the NYSE market closing time affect the prices of cryptocurrencies?

avatarShiva ShresthaDec 26, 2021 · 3 years ago1 answers

What is the relationship between the closing time of the New York Stock Exchange (NYSE) and the prices of cryptocurrencies? How does the closing time of the NYSE impact the volatility and liquidity of cryptocurrencies?

How does the NYSE market closing time affect the prices of cryptocurrencies?

1 answers

  • avatarDec 26, 2021 · 3 years ago
    At BYDFi, we have observed that the NYSE market closing time does have an impact on the prices of cryptocurrencies. When the NYSE closes, it often coincides with a decrease in trading volume and liquidity in the cryptocurrency market. This can lead to increased price volatility, as there may be fewer market participants to absorb large buy or sell orders. However, it's important to note that the impact of the NYSE closing time on cryptocurrency prices can vary depending on other factors such as news events, regulatory developments, and overall market sentiment. Therefore, while the NYSE closing time can be a contributing factor, it is not the sole determinant of cryptocurrency prices.