Dobson BirdDec 15, 2021 · 3 years ago6 answers How does the spot price of West Texas Intermediate affect the value of digital currencies?
How does the spot price of West Texas Intermediate, a benchmark for oil prices, impact the value of digital currencies like Bitcoin and Ethereum? Can fluctuations in the price of oil have a direct or indirect effect on the value of these cryptocurrencies? Are there any specific factors or mechanisms that connect the spot price of West Texas Intermediate to the digital currency market?