How does the loonie exchange rate affect the value of digital currencies?

1 answers

• Dec 19, 2021 · 3 years ago
  As an expert in the digital currency market, I can tell you that the loonie exchange rate does have an impact on the value of digital currencies. When the loonie strengthens, it can make digital currencies more expensive for Canadian investors, reducing their demand and potentially lowering their value. Conversely, when the loonie weakens, digital currencies can become more affordable for Canadian investors, increasing their demand and potentially driving up their value. However, it's important to remember that the value of digital currencies is also influenced by other factors, such as market trends and investor sentiment. Therefore, while the loonie exchange rate is a factor to consider, it should not be the sole determinant of the value of digital currencies.
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