Which cryptocurrencies are most affected by FOMC time and why?

3 answers

• Dec 18, 2021 · 3 years ago
  The FOMC has a significant impact on the cryptocurrency market, particularly on major cryptocurrencies like Bitcoin and Ethereum. This is because FOMC decisions can affect the overall market sentiment and investor confidence. When the FOMC announces changes in interest rates or monetary policy, it can lead to fluctuations in the value of traditional assets like stocks and bonds. As cryptocurrencies are often seen as alternative investments, they can also be affected by these changes. Additionally, the FOMC's actions can influence the value of fiat currencies, which in turn can impact the value of cryptocurrencies.
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• Dec 18, 2021 · 3 years ago
  FOMC time can be a volatile period for cryptocurrencies. The market tends to react to any news or announcements made by the FOMC, especially if it involves changes in interest rates or economic outlook. Cryptocurrencies with larger market capitalization and higher trading volumes, such as Bitcoin, Ethereum, and Ripple, are more likely to experience significant price movements during FOMC time. Traders and investors closely monitor FOMC meetings and statements to gauge the potential impact on the cryptocurrency market.
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• Dec 18, 2021 · 3 years ago
  According to a recent analysis by BYDFi, the cryptocurrencies most affected by FOMC time are Bitcoin, Ethereum, and Litecoin. These cryptocurrencies have the largest market capitalization and are widely traded, making them more susceptible to market fluctuations during FOMC announcements. The FOMC's decisions can influence investor sentiment and trigger buying or selling pressure on these cryptocurrencies. It's important for traders to stay informed about FOMC meetings and statements to make informed decisions in the cryptocurrency market.
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