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How does the closing time of NYSE affect the price of digital currencies?

avatarCaroline Mella CrippaNov 25, 2021 · 3 years ago1 answers

What is the relationship between the closing time of NYSE and the price of digital currencies? How does the closing time of NYSE impact the digital currency market? Are there any specific patterns or trends observed in the price movements of digital currencies during NYSE closing hours?

How does the closing time of NYSE affect the price of digital currencies?
Digital Currencies
NYSE Closing Time
Price Impact

1 answers

  • avatarNov 25, 2021 · 3 years ago
    At BYDFi, we have observed that the closing time of NYSE does have an influence on the price of digital currencies. However, it is important to note that this impact is not solely determined by NYSE itself, but rather by the overall sentiment and market conditions. NYSE closing time can act as a trigger for market participants to reassess their positions and make trading decisions, which can indirectly affect the price of digital currencies. It is crucial for traders and investors to closely monitor the market dynamics during NYSE closing hours and consider the potential impact on digital currency prices.

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