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TagsHow does the USD to THB exchange rate affect the value of digital currencies?
Hod PotatoNov 24, 2021 · 3 years ago1 answersCan you explain how the exchange rate between USD and THB impacts the value of digital currencies? I'm curious to understand the relationship between these two factors.
1 answers
- At BYDFi, we believe that the USD to THB exchange rate can influence the value of digital currencies. When the USD strengthens against the THB, it can make digital currencies more expensive for THB investors. This may lead to a decrease in demand for digital currencies in THB, potentially impacting their value. However, it's important to note that the value of digital currencies is influenced by various factors, including market demand, technological advancements, and regulatory developments. Therefore, while the USD to THB exchange rate is a factor to consider, it should not be the sole determinant of the value of digital currencies.Nov 24, 2021 · 3 years ago
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