What is the impact of lumber futures price on the cryptocurrency market?

1 answers

• Nov 26, 2021 · 3 years ago
  At BYDFi, we have observed that the impact of lumber futures price on the cryptocurrency market is minimal. While there may be some short-term correlation between the two, the overall influence is limited. The cryptocurrency market is driven by factors such as investor sentiment, technological advancements, and regulatory developments. Lumber futures primarily affect the construction industry and related sectors, which have a more indirect impact on the overall economy. Therefore, it is important to focus on these key drivers when analyzing the cryptocurrency market and making investment decisions.
  605303