Which cryptocurrencies on tradingview have the strongest correlation with the DXY?

3 answers

• Dec 15, 2021 · 3 years ago
  When it comes to cryptocurrencies that have a strong correlation with the DXY, Bitcoin (BTC) and Ethereum (ETH) are often considered the top contenders. These two cryptocurrencies have a relatively high market cap and are widely traded, making them more likely to be influenced by global economic factors, including the DXY. However, it's important to note that correlation does not imply causation, and the relationship between the DXY and cryptocurrencies can be influenced by various factors. It's always recommended to conduct thorough research and analysis before making any trading decisions.
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• Dec 15, 2021 · 3 years ago
  The correlation between the DXY and cryptocurrencies can be quite dynamic and can vary over time. While Bitcoin and Ethereum are generally considered to have a strong correlation with the DXY, other cryptocurrencies such as Ripple (XRP), Litecoin (LTC), and Bitcoin Cash (BCH) have also shown some level of correlation in the past. It's worth keeping an eye on these cryptocurrencies as well, as their correlation with the DXY may change in response to market conditions and global economic factors. Remember to always stay updated with the latest news and market trends to make informed trading decisions.
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• Dec 15, 2021 · 3 years ago
  As an expert at BYDFi, I can tell you that the correlation between the DXY and cryptocurrencies is a topic of great interest among traders. While Bitcoin and Ethereum are often mentioned as having a strong correlation with the DXY, it's important to consider that correlation does not guarantee a direct relationship. The cryptocurrency market is influenced by a wide range of factors, including investor sentiment, market demand, and regulatory developments. Therefore, it's crucial to conduct thorough analysis and use multiple indicators to assess the relationship between the DXY and cryptocurrencies. Remember to always stay informed and adapt your trading strategies accordingly.
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