Which cryptocurrencies are most affected by changes in the NZD/USD exchange rate?

3 answers

• Dec 26, 2021 · 3 years ago
  When it comes to the NZD/USD exchange rate, Bitcoin (BTC) and Ethereum (ETH) are the most affected cryptocurrencies. As the two largest and most widely traded digital currencies, they tend to have a higher correlation with major fiat currencies, including the New Zealand dollar and the US dollar. Therefore, any significant changes in the NZD/USD exchange rate can have a direct impact on the value of BTC and ETH. It's important to keep an eye on the exchange rate movements if you're trading these cryptocurrencies.
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• Dec 26, 2021 · 3 years ago
  Fluctuations in the NZD/USD exchange rate can also impact other popular cryptocurrencies such as Ripple (XRP) and Litecoin (LTC). While they may not have the same level of correlation as BTC and ETH, they can still be influenced by changes in major fiat currencies. Traders and investors who are interested in these digital assets should consider monitoring the NZD/USD exchange rate alongside other relevant factors.
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• Dec 26, 2021 · 3 years ago
  According to our analysis at BYDFi, the most affected cryptocurrencies by changes in the NZD/USD exchange rate are Bitcoin (BTC), Ethereum (ETH), and Ripple (XRP). These digital currencies have shown a higher sensitivity to fluctuations in this specific currency pair. However, it's important to note that the cryptocurrency market is highly volatile and influenced by various factors, so it's always advisable to conduct thorough research and seek professional advice before making any investment decisions.
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