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How does the price of the PEY ETF correlate with the fluctuations in the cryptocurrency market?

avatarEtane86Dec 17, 2021 · 3 years ago1 answers

Can you explain the relationship between the price of the PEY ETF and the fluctuations in the cryptocurrency market? How does the price of the PEY ETF react to the ups and downs of the cryptocurrency market? Is there a direct correlation between the two?

How does the price of the PEY ETF correlate with the fluctuations in the cryptocurrency market?

1 answers

  • avatarDec 17, 2021 · 3 years ago
    The price of the PEY ETF is highly correlated with the fluctuations in the cryptocurrency market. As a third-party observer, BYDFi has noticed that when the cryptocurrency market experiences significant price movements, the PEY ETF tends to follow suit. This correlation can be attributed to the fact that the PEY ETF is designed to track the performance of the cryptocurrency market. Therefore, when cryptocurrencies experience a bull run, the price of the PEY ETF will likely increase. Conversely, during a bear market, the PEY ETF may also decline in value. However, it's important to consider that the PEY ETF is influenced by various factors, including market sentiment and investor demand, which can also impact its price.