How does the performance of TSMC stock affect the value of cryptocurrencies?

1 answers

• Mar 06, 2022 · 3 years ago
  The performance of TSMC stock can have a significant impact on the value of cryptocurrencies. TSMC is a major supplier of chips used in cryptocurrency mining, and any changes in their stock performance can affect the overall sentiment and confidence in the cryptocurrency market. When TSMC stock performs well, it can boost investor confidence in the mining industry and attract more capital into the cryptocurrency market. This increased investment can drive up the value of cryptocurrencies. Conversely, if TSMC stock performs poorly, it may lead to a decrease in investor confidence and a potential decline in the value of cryptocurrencies.
  643322