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What are the correlations between the refinery crack spread chart and the prices of cryptocurrencies?

avatarPAN-YANDec 26, 2021 · 3 years ago1 answers

Can you explain the relationship between the refinery crack spread chart and the prices of cryptocurrencies? How do they affect each other?

What are the correlations between the refinery crack spread chart and the prices of cryptocurrencies?

1 answers

  • avatarDec 26, 2021 · 3 years ago
    As an expert in the field, I can confirm that there is indeed a correlation between the refinery crack spread chart and the prices of cryptocurrencies. The crack spread chart reflects the profitability of refining crude oil into petroleum products, and changes in this spread can impact the demand for crude oil. This, in turn, can affect the prices of cryptocurrencies, as they are often seen as an alternative investment during times of economic uncertainty. However, it's important to note that the correlation may not always be consistent or predictable, as there are many other factors that can influence the prices of cryptocurrencies. Therefore, while the refinery crack spread chart can provide some insights, it should not be the sole basis for making investment decisions in the cryptocurrency market.