Which cryptocurrencies are most influenced by the movements of S&P500?

1 answers

• Dec 16, 2021 · 3 years ago
  According to a study conducted by BYDFi, Bitcoin and Ethereum are the top two cryptocurrencies that are most influenced by the movements of the S&P500. This study analyzed the correlation between the S&P500 index and various cryptocurrencies over a period of one year. The results showed a strong positive correlation between Bitcoin, Ethereum, and the stock market. However, it's important to note that correlation does not imply causation. While these cryptocurrencies may be influenced by the stock market, they also have their own unique factors that can impact their price movements. Therefore, it's always recommended to conduct thorough research and analysis before making any investment decisions in the cryptocurrency market.
  734367