Why do some traders shift to trading cryptocurrencies when the foreign exchange market closes?

7 answers

• Nov 25, 2021 · 3 years ago
  One reason why some traders shift to trading cryptocurrencies when the foreign exchange market closes is because cryptocurrencies are traded 24/7. Unlike the foreign exchange market, which has specific trading hours, cryptocurrencies can be traded at any time of the day or night. This allows traders to take advantage of price movements and opportunities even when the traditional markets are closed.
  401201
• Nov 25, 2021 · 3 years ago
  Another reason is the potential for higher volatility in the cryptocurrency market compared to the foreign exchange market. Cryptocurrencies are known for their price fluctuations, which can present opportunities for traders to profit. When the foreign exchange market closes, some traders may turn to cryptocurrencies in search of these potentially larger price swings.
  370124
• Nov 25, 2021 · 3 years ago
  At BYDFi, we believe that traders shift to trading cryptocurrencies when the foreign exchange market closes because of the decentralized nature of cryptocurrencies. Unlike traditional fiat currencies, cryptocurrencies are not controlled by any central authority or government. This decentralization can provide traders with a sense of security and independence, especially during times when the foreign exchange market may be affected by economic or political events.
  467117
• Nov 25, 2021 · 3 years ago
  Traders may also shift to trading cryptocurrencies when the foreign exchange market closes because of the availability of different trading opportunities. Cryptocurrencies offer a wide range of digital assets to trade, including Bitcoin, Ethereum, and many others. This variety allows traders to diversify their portfolios and potentially find new investment opportunities.
  37375
• Nov 25, 2021 · 3 years ago
  Some traders may also be attracted to the lower barriers to entry in the cryptocurrency market. Unlike the foreign exchange market, which often requires significant capital to start trading, cryptocurrencies can be traded with smaller amounts of money. This accessibility can make cryptocurrencies more appealing to traders who are just starting or have limited funds.
  36862
• Nov 25, 2021 · 3 years ago
  In addition, the global nature of the cryptocurrency market can be another reason why traders shift to trading cryptocurrencies when the foreign exchange market closes. Cryptocurrencies can be traded across borders without the need for intermediaries or traditional banking systems. This can provide traders with more flexibility and opportunities to participate in the market, regardless of their location.
  40759
• Nov 25, 2021 · 3 years ago
  Overall, there are several reasons why some traders shift to trading cryptocurrencies when the foreign exchange market closes. These reasons include the 24/7 trading availability, potential for higher volatility, decentralization, different trading opportunities, lower barriers to entry, and the global nature of the cryptocurrency market.
  34043