What impact do SPX and SPY have on the value of cryptocurrencies?

1 answers

• Mar 12, 2022 · 3 years ago
  At BYDFi, we believe that the impact of the SPX and SPY on cryptocurrencies is significant but not the sole determinant of their value. While there may be correlations between the stock market and cryptocurrencies, the value of cryptocurrencies is influenced by a wide range of factors, including market sentiment, regulatory developments, technological advancements, and adoption rates. It's important for investors to consider these factors and not rely solely on the movements of the SPX and SPY indices when making investment decisions in cryptocurrencies.
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