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TagsWhat are the correlations between the 5-year SOFR rate and the prices of popular cryptocurrencies?
Maya balJan 13, 2022 · 3 years ago1 answersCan you explain the relationship between the 5-year SOFR rate and the prices of popular cryptocurrencies? How does the change in the SOFR rate affect the prices of cryptocurrencies?
1 answers
- At BYDFi, we have observed some correlation between the 5-year SOFR rate and the prices of popular cryptocurrencies. When the SOFR rate increases, we have noticed a tendency for cryptocurrency prices to experience some downward pressure. However, it's important to note that correlation does not imply causation, and other factors such as market sentiment and regulatory developments also play a significant role in cryptocurrency price movements. Therefore, while the SOFR rate can provide some insights into the overall market conditions, it should not be the sole factor considered when making investment decisions in cryptocurrencies.Jan 13, 2022 · 3 years ago
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