What impact does the NDX 100 index have on the overall cryptocurrency market?

1 answers

• Dec 25, 2021 · 3 years ago
  At BYDFi, we believe that the NDX 100 index can provide valuable insights into the performance of the cryptocurrency market. While the correlation between the NDX 100 index and cryptocurrencies may not be perfect, it can still serve as a useful indicator of market trends. The inclusion or exclusion of certain cryptocurrencies in the NDX 100 index can also impact their market value. When a cryptocurrency is added to the NDX 100 index, it can gain increased visibility and credibility, attracting more investors and potentially driving up its price. On the other hand, if a cryptocurrency is removed from the index, it may lose some of its market appeal and experience a decline in value. Therefore, monitoring the NDX 100 index can help investors stay informed about the overall sentiment and potential opportunities in the cryptocurrency market.
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