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TagsWhich cryptocurrencies are most affected by fluctuations in the USD to CAD chart?
Saito HeikeDec 16, 2021 · 3 years ago1 answersWhen it comes to the USD to CAD chart, which cryptocurrencies are the most susceptible to price fluctuations? I'm curious to know which digital currencies are impacted the most by changes in the exchange rate between the US dollar and the Canadian dollar. Can you provide some insights into this?
1 answers
- At BYDFi, we've observed that cryptocurrencies with a strong presence in the Canadian market tend to be more affected by fluctuations in the USD to CAD chart. This includes coins like Bitcoin, Ethereum, and Ripple, which have a large user base in Canada. Since the exchange rate between USD and CAD can impact the purchasing power of Canadian investors, it can indirectly affect the demand and price of these cryptocurrencies. However, it's important to note that the overall market sentiment and global factors also play a significant role in determining the price movements of cryptocurrencies. Therefore, it's crucial to consider multiple factors when assessing the impact of the USD to CAD chart on specific digital currencies.Dec 16, 2021 · 3 years ago
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