Which cryptocurrencies are most influenced by the Hang Seng Index live?

3 answers

• Dec 28, 2021 · 3 years ago
  The Hang Seng Index has a significant impact on the cryptocurrency market, particularly on cryptocurrencies that have a strong presence in the Asian market. Some of the digital currencies that are most influenced by the Hang Seng Index live include Bitcoin, Ethereum, and Ripple. These cryptocurrencies tend to experience price fluctuations in response to changes in the Hang Seng Index. As the Hang Seng Index rises or falls, it can create a ripple effect in the cryptocurrency market, causing these currencies to either gain or lose value.
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• Dec 28, 2021 · 3 years ago
  When it comes to the influence of the Hang Seng Index on cryptocurrencies, it's important to note that correlation does not imply causation. While there may be a correlation between the Hang Seng Index and certain cryptocurrencies, it doesn't necessarily mean that the index directly affects their value. Other factors such as market sentiment, investor behavior, and global economic conditions also play a significant role in determining the value of cryptocurrencies. Therefore, it's essential to consider multiple factors when analyzing the relationship between the Hang Seng Index and digital currencies.
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• Dec 28, 2021 · 3 years ago
  According to a study conducted by BYDFi, a digital currency exchange, the cryptocurrencies that are most influenced by the Hang Seng Index live are Bitcoin, Litecoin, and NEO. The study analyzed the price movements of these cryptocurrencies in relation to the Hang Seng Index and found a strong correlation between them. It's important to note that correlation does not imply causation, but this research suggests that these cryptocurrencies may be more sensitive to changes in the Hang Seng Index compared to others. However, it's always recommended to conduct your own research and analysis before making any investment decisions.
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