Which cryptocurrencies are most influenced by FTSE movements?

3 answers

• Dec 29, 2021 · 3 years ago
  Certainly! When it comes to cryptocurrencies that are most influenced by FTSE movements, Bitcoin and Ethereum are two of the most notable ones. As the largest and most well-known cryptocurrencies, they often exhibit a strong correlation with the performance of the FTSE index. This is because Bitcoin and Ethereum are considered as safe-haven assets, and investors tend to flock to them during times of economic uncertainty, which can also impact the FTSE index. Additionally, other cryptocurrencies like Ripple, Litecoin, and Bitcoin Cash may also show some level of correlation with the FTSE movements, although to a lesser extent compared to Bitcoin and Ethereum.
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• Dec 29, 2021 · 3 years ago
  Well, it's important to note that the correlation between cryptocurrencies and the FTSE index can vary over time. While Bitcoin and Ethereum have historically shown a strong correlation with the FTSE movements, it's not always the case. Factors such as market sentiment, regulatory developments, and global economic conditions can also influence the correlation between cryptocurrencies and traditional financial markets. Therefore, it's always a good idea to keep an eye on the latest market trends and news to get a better understanding of the current relationship between cryptocurrencies and the FTSE index.
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• Dec 29, 2021 · 3 years ago
  According to our analysis at BYDFi, the cryptocurrencies that are most influenced by FTSE movements are Bitcoin, Ethereum, and Ripple. These three cryptocurrencies have consistently shown a strong correlation with the performance of the FTSE index. However, it's worth noting that correlation does not imply causation, and the relationship between cryptocurrencies and traditional financial markets can be complex. It's always recommended to conduct thorough research and consult with financial experts before making any investment decisions based on correlation with the FTSE index or any other market factor.
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