What impact does the fluctuation of the US dollar and the Australian dollar have on the prices of cryptocurrencies?

1 answers

• Dec 29, 2021 · 3 years ago
  At BYDFi, we believe that the fluctuation of the US dollar and the Australian dollar can indeed have an impact on the prices of cryptocurrencies. However, it is important to note that the crypto market is influenced by a wide range of factors, including global economic trends, regulatory developments, and investor sentiment. While changes in exchange rates between USD and AUD can play a role in shaping the crypto market, it is crucial to consider the bigger picture and not solely rely on currency fluctuations when making investment decisions. As always, it is recommended to do thorough research and consult with financial professionals before making any investment in cryptocurrencies.
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