Which cryptocurrencies are influenced by changes in the ASX share price?

3 answers

• Nov 28, 2021 · 3 years ago
  Certainly! The ASX share price can have an impact on certain cryptocurrencies. Cryptocurrencies like Bitcoin, Ethereum, and Ripple have shown some correlation with the ASX share price in the past. However, it's important to note that the relationship between the ASX share price and cryptocurrencies is complex and can be influenced by various factors such as market sentiment, global economic conditions, and regulatory developments. It's always recommended to conduct thorough research and analysis before making any investment decisions.
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• Nov 28, 2021 · 3 years ago
  Yep, the ASX share price can definitely influence the value of certain cryptocurrencies. Bitcoin, being the largest and most well-known cryptocurrency, tends to be more responsive to changes in traditional markets like the ASX. Other cryptocurrencies like Ethereum and Litecoin have also shown some correlation with the ASX share price. However, it's important to remember that the cryptocurrency market is highly volatile and influenced by a wide range of factors, so it's not a guarantee that the ASX share price will always have a direct impact on cryptocurrency prices.
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• Nov 28, 2021 · 3 years ago
  As an expert in the cryptocurrency industry, I can confirm that there is a relationship between the ASX share price and certain cryptocurrencies. Bitcoin, being the dominant cryptocurrency, often experiences price movements that align with changes in the ASX share price. However, it's worth noting that the correlation is not always consistent and can vary over time. Other cryptocurrencies like Ethereum, Ripple, and Litecoin may also be influenced by the ASX share price to some extent. It's important to keep an eye on market trends and news to better understand the dynamics between traditional markets and cryptocurrencies.
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