Which cryptocurrencies have the most correlation with forex currency charts?

3 answers

• Dec 29, 2021 · 3 years ago
  When it comes to cryptocurrencies that have a strong correlation with forex currency charts, Bitcoin and Ethereum are the top contenders. These two cryptocurrencies often exhibit similar price movements to major forex currency pairs. The reason behind this correlation can be attributed to the fact that Bitcoin and Ethereum are widely recognized and accepted as digital assets, making them more sensitive to global economic factors that also impact forex markets. Additionally, the liquidity and trading volume of Bitcoin and Ethereum make them more likely to align with forex currency charts. So, if you're looking for cryptocurrencies that closely follow forex currency charts, Bitcoin and Ethereum are your best bets!
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• Dec 29, 2021 · 3 years ago
  If you're interested in cryptocurrencies that show a high correlation with forex currency charts, it's worth considering Ripple (XRP) and Litecoin (LTC). While they may not have the same level of correlation as Bitcoin and Ethereum, Ripple and Litecoin still exhibit some degree of similarity in price movements with major forex currency pairs. This correlation can be attributed to the fact that Ripple and Litecoin, like Bitcoin and Ethereum, have gained significant recognition and adoption in the cryptocurrency market. As a result, they are influenced by similar market forces that impact forex currency charts. So, if you're looking for alternative cryptocurrencies with a correlation to forex currency charts, Ripple and Litecoin are worth keeping an eye on!
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• Dec 29, 2021 · 3 years ago
  Based on my experience at BYDFi, I've observed that Bitcoin and Ethereum have the strongest correlation with forex currency charts among cryptocurrencies. This correlation can be explained by the fact that Bitcoin and Ethereum are the most widely recognized and traded cryptocurrencies globally. As a result, they tend to move in sync with major forex currency pairs due to the influence of similar economic and market factors. While other cryptocurrencies may also exhibit some correlation, Bitcoin and Ethereum consistently demonstrate a higher degree of alignment with forex currency charts. So, if you're looking for cryptocurrencies that closely mirror forex currency movements, Bitcoin and Ethereum should be your primary focus!
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