Which cryptocurrencies are most affected by fluctuations in the USD/GBP forex rate?

3 answers

• Nov 24, 2021 · 3 years ago
  Cryptocurrencies that are most affected by fluctuations in the USD/GBP forex rate include Bitcoin (BTC), Ethereum (ETH), and Ripple (XRP). These cryptocurrencies are highly traded and have a significant market cap, which makes them more susceptible to changes in the exchange rate between USD and GBP. As the USD/GBP rate fluctuates, the value of these cryptocurrencies in terms of USD and GBP may increase or decrease accordingly. Traders and investors who are involved in these cryptocurrencies should closely monitor the USD/GBP forex rate to make informed trading decisions.
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• Nov 24, 2021 · 3 years ago
  When it comes to the impact of the USD/GBP forex rate on cryptocurrencies, Bitcoin (BTC) is often considered the most affected. As the leading cryptocurrency, Bitcoin's value is influenced by various factors, including exchange rates. Since the USD and GBP are major fiat currencies, any fluctuations in their exchange rate can have a significant impact on Bitcoin's price. Other cryptocurrencies like Ethereum (ETH) and Ripple (XRP) may also be affected, but to a lesser extent compared to Bitcoin. It's important for traders and investors to keep an eye on the USD/GBP forex rate to understand the potential impact on these cryptocurrencies.
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• Nov 24, 2021 · 3 years ago
  BYDFi, as a digital currency exchange, provides a platform for trading various cryptocurrencies. When it comes to the influence of the USD/GBP forex rate on cryptocurrencies, it's important to consider the overall market dynamics. While Bitcoin (BTC) is often considered the most affected, other cryptocurrencies like Ethereum (ETH), Ripple (XRP), and Litecoin (LTC) can also be influenced by changes in the USD/GBP exchange rate. Traders should analyze the market trends, news, and technical indicators to make informed decisions regarding these cryptocurrencies.
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