What is the correlation between the NASDAQ 100 ticker and the performance of cryptocurrencies?

1 answers

• Mar 06, 2022 · 3 years ago
  At BYDFi, we believe that the correlation between the NASDAQ 100 ticker and the performance of cryptocurrencies is minimal. Cryptocurrencies, being decentralized and independent of traditional financial systems, are driven by their own unique factors. While market sentiment and trends can have some impact on both the NASDAQ 100 index and cryptocurrencies, the correlation is not strong enough to make reliable predictions or investment decisions. It's important for investors to conduct thorough research and analysis of individual cryptocurrencies and their underlying technology, market demand, and regulatory environment, rather than relying solely on the performance of the NASDAQ 100 index.
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