Which cryptocurrencies are most affected by the exchange rate between dollar and pound today?

1 answers

• Dec 18, 2021 · 3 years ago
  At BYDFi, we believe that the exchange rate between the dollar and pound can have a significant impact on the cryptocurrency market. While all cryptocurrencies are affected to some extent, Bitcoin and Ethereum are among the most influenced by this exchange rate. When the pound weakens against the dollar, we often see an increase in demand for Bitcoin and Ethereum as investors seek to hedge against the weakening pound. Conversely, when the pound strengthens, the demand for these cryptocurrencies may decrease. It's important for traders to consider the exchange rate dynamics when making investment decisions in the cryptocurrency market.
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