common-close-0
BYDFi
Trade wherever you are!
Markets
Buy Cryptocommon-tiny-triangle-down
Tradecommon-tiny-triangle-down
Derivativeshotcommon-tiny-triangle-down
Trading Bots
Partnershipcommon-tiny-triangle-down
Reward Centercommon-new-0
Halloween Carnival Night
header-more-option
header-global
header-download
header-skin-grey-0

What is the correlation between Nymex WTI futures and the volatility of the cryptocurrency market?

avatarb_mNov 24, 2021 · 3 years ago1 answers

Can you explain the relationship between Nymex WTI futures and the volatility of the cryptocurrency market? How do these two factors influence each other?

What is the correlation between Nymex WTI futures and the volatility of the cryptocurrency market?
Nymex WTI Futures
Cryptocurrency Market
Volatility

1 answers

  • avatarNov 24, 2021 · 3 years ago
    As an expert in the cryptocurrency market, I can tell you that there is no direct correlation between Nymex WTI futures and the volatility of the cryptocurrency market. The cryptocurrency market is highly speculative and driven by factors such as market sentiment, investor demand, and regulatory developments. While changes in the price of oil can have some indirect impact on investor sentiment, it is unlikely to be a major driver of volatility in the cryptocurrency market. It is important to analyze the cryptocurrency market based on its own unique dynamics and not rely solely on external factors such as Nymex WTI futures.

Related questions

common-arrow-bottom-0Load 5 more related questions
common-search-0

Related Tags

Hot Questions