Which cryptocurrencies are most affected by changes in the NASDAQ Composite quote?

3 answers

• Dec 16, 2021 · 3 years ago
  When it comes to the impact of changes in the NASDAQ Composite quote on cryptocurrencies, Bitcoin and Ethereum are the two major players that are most likely to be affected. As the largest and most well-known cryptocurrencies, they often serve as indicators for the overall market sentiment. When the NASDAQ Composite experiences significant fluctuations, it can lead to a ripple effect in the cryptocurrency market, causing Bitcoin and Ethereum prices to rise or fall accordingly. Additionally, the trading volume of these cryptocurrencies tends to increase during such periods of market volatility.
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• Dec 16, 2021 · 3 years ago
  Fluctuations in the NASDAQ Composite quote can have a significant impact on altcoins as well. Altcoins refer to all cryptocurrencies other than Bitcoin and Ethereum. While they may not be as directly influenced by changes in the NASDAQ Composite, they are still part of the broader cryptocurrency market and can be affected by overall market sentiment. During periods of high volatility in the NASDAQ Composite, altcoins may experience increased trading activity and price fluctuations. It's important for investors to closely monitor these changes and consider the potential impact on their altcoin investments.
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• Dec 16, 2021 · 3 years ago
  According to a recent analysis by BYDFi, a digital currency exchange, cryptocurrencies such as Ripple (XRP) and Litecoin (LTC) have shown a higher correlation with the NASDAQ Composite quote compared to other digital assets. This means that when the NASDAQ Composite experiences significant changes, Ripple and Litecoin prices tend to be more responsive. However, it's worth noting that correlation does not necessarily imply causation, and other factors can also influence the value and trading volume of these cryptocurrencies. Investors should conduct thorough research and consider multiple indicators when making investment decisions.
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