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What are the correlations between fred core pce and cryptocurrency trading volume?

avatarNisha WaghmareNov 24, 2021 · 3 years ago1 answers

Can you explain the relationship between fred core pce and cryptocurrency trading volume? How do these two factors correlate with each other?

What are the correlations between fred core pce and cryptocurrency trading volume?
Cryptocurrency
Fred Core Pce
Trading Volume

1 answers

  • avatarNov 24, 2021 · 3 years ago
    At BYDFi, we have observed some correlation between fred core pce and cryptocurrency trading volume. When fred core pce shows signs of inflation, we often see an increase in trading volume for cryptocurrencies. This can be attributed to investors seeking alternative assets to protect their wealth from the devaluation of traditional currencies. However, it's important to note that correlation does not imply causation, and other factors such as market trends and investor sentiment also contribute to changes in trading volume. Therefore, while fred core pce can be considered as one of the factors influencing cryptocurrency trading volume, it should not be solely relied upon for making investment decisions.

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