What is the correlation between the opening time of Nasdaq and the performance of digital currencies?

3 answers

• Dec 29, 2021 · 3 years ago
  Yes, there is a correlation between the opening time of Nasdaq and the performance of digital currencies. When Nasdaq opens, it provides a significant boost to the overall trading activity in the market. This increased trading volume often leads to higher volatility and price fluctuations in digital currencies. Traders and investors closely monitor the opening of Nasdaq as it can set the tone for the day's trading. The opening time of Nasdaq can influence market sentiment and impact the demand and supply dynamics of cryptocurrencies.
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• Dec 29, 2021 · 3 years ago
  The opening time of Nasdaq can have a psychological impact on the performance of digital currencies. When Nasdaq opens, it signals the start of the trading day and sets the tone for investor sentiment. Positive or negative news and events that occur during the opening hours can significantly impact the prices of digital currencies. Traders and investors often react to the market sentiment created by Nasdaq's opening, which can lead to increased buying or selling pressure on cryptocurrencies.
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• Dec 29, 2021 · 3 years ago
  According to a study conducted by BYDFi, there is a positive correlation between the opening time of Nasdaq and the performance of digital currencies. The study analyzed the price movements and trading volumes of various cryptocurrencies during the opening hours of Nasdaq. It found that there is a higher trading activity and increased price volatility during this time. This suggests that the opening time of Nasdaq can influence the performance of digital currencies, making it an important factor to consider for traders and investors.
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