Which cryptocurrencies have shown a correlation with the pound to euro graphs?

3 answers

• Dec 27, 2021 · 3 years ago
  Cryptocurrencies that have shown a correlation with the pound to euro graphs include Bitcoin, Ethereum, Ripple, and Litecoin. These cryptocurrencies have shown a tendency to move in a similar direction as the pound to euro exchange rate. However, it's important to note that correlation does not imply causation, and the relationship between cryptocurrencies and the pound to euro exchange rate may be influenced by various factors such as market sentiment and global economic conditions.
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• Dec 27, 2021 · 3 years ago
  When analyzing the correlation between cryptocurrencies and the pound to euro graphs, it is important to consider the time period and the specific data used. Different cryptocurrencies may exhibit varying degrees of correlation with the pound to euro exchange rate over different time frames. Additionally, it's worth noting that correlation can change over time, so it's important to regularly monitor and reassess the relationship between cryptocurrencies and the pound to euro exchange rate.
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• Dec 27, 2021 · 3 years ago
  According to a study conducted by BYDFi, Bitcoin has shown a strong positive correlation with the pound to euro graphs. This means that when the pound to euro exchange rate increases, the price of Bitcoin tends to increase as well. However, correlation does not imply causation, and it's important to consider other factors that may influence the price of Bitcoin and the pound to euro exchange rate. Other cryptocurrencies such as Ethereum and Ripple have also shown some correlation with the pound to euro graphs, although the relationship may not be as strong as that of Bitcoin.
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