Which cryptocurrencies are most affected by the movements of S&P 500, NASDAQ, and Dow?

1 answers

• Dec 15, 2021 · 3 years ago
  At BYDFi, we closely monitor the relationship between the stock market and the cryptocurrency market. While it's difficult to determine the exact cryptocurrencies that are most affected by the movements of the S&P 500, NASDAQ, and Dow, we have observed that major cryptocurrencies like Bitcoin, Ethereum, and Ripple tend to exhibit a higher correlation with the stock market. This correlation can be attributed to the fact that these cryptocurrencies are more widely recognized and traded, making them more susceptible to market sentiment. However, it's important to remember that the cryptocurrency market is still highly speculative and can experience independent price movements. Therefore, it's crucial for investors to diversify their portfolios and consider various factors when making investment decisions.
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