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Which cryptocurrencies are most affected by changes in the S&P index?

avatarBudi Prih HastomoDec 29, 2021 · 3 years ago1 answers

Can you provide insights into which cryptocurrencies are most influenced by changes in the S&P index? I'm curious to know if there are specific digital currencies that tend to move in sync with the S&P index or if there are any notable exceptions. Additionally, I would like to understand the reasons behind these correlations or divergences.

Which cryptocurrencies are most affected by changes in the S&P index?
Cryptocurrencies
S&P Index
Correlation

1 answers

  • avatarDec 29, 2021 · 3 years ago
    Based on my experience at BYDFi, I can say that the correlation between cryptocurrencies and the S&P index can vary. While some cryptocurrencies like Bitcoin and Ethereum may show some correlation with the stock market, there are also digital assets that are less influenced by traditional markets. This is because the cryptocurrency market is driven by its own unique factors, such as technological advancements, regulatory developments, and investor sentiment within the crypto community. So, it's important to consider both the macroeconomic factors and the specific dynamics of each cryptocurrency when analyzing their relationship with the S&P index. 👍

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