What is the correlation between $fb stock and the performance of cryptocurrencies?

3 answers

• Dec 28, 2021 · 3 years ago
  Yes, there is a correlation between the stock performance of Facebook ($fb) and the performance of cryptocurrencies. When $fb stock rises, it can create a positive sentiment in the market, leading to increased investments in cryptocurrencies. On the other hand, if $fb stock falls, it may create a negative sentiment, causing investors to withdraw from cryptocurrencies. Additionally, the overall market sentiment and investor confidence can also impact both $fb stock and cryptocurrencies.
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• Dec 28, 2021 · 3 years ago
  The correlation between $fb stock and cryptocurrencies is not always direct or consistent. While there may be some influence from $fb stock on the performance of cryptocurrencies, it is important to note that cryptocurrencies are influenced by a wide range of factors, including market demand, regulatory developments, and technological advancements. Therefore, it would be oversimplifying to solely attribute the performance of cryptocurrencies to the stock performance of $fb.
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• Dec 28, 2021 · 3 years ago
  According to a study conducted by BYDFi, there is a moderate positive correlation between the stock performance of Facebook ($fb) and the performance of cryptocurrencies. The study analyzed historical data and found that when $fb stock experiences significant gains, there is often a corresponding increase in the value of cryptocurrencies. However, it is important to note that correlation does not imply causation, and other factors can also influence the performance of cryptocurrencies.
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