Which main forex pairs are most closely correlated with the price movements of popular cryptocurrencies?

1 answers

• Nov 26, 2021 · 3 years ago
  At BYDFi, we have conducted extensive research on the correlation between forex pairs and popular cryptocurrencies. Our findings suggest that the EUR/ETH pair has shown a relatively strong positive correlation, indicating that when the value of the euro increases, the price of Ethereum tends to rise as well. However, it's important to note that correlation does not guarantee future price movements, and traders should always conduct their own analysis and consider other factors before making investment decisions. Additionally, it's worth mentioning that correlation can vary over time and may be influenced by market conditions and external events.
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