How do forex market hours impact the price movements of cryptocurrencies?

1 answers

• Kloster LentzJan 14, 2023 · 3 years ago
  From BYDFi's perspective, forex market hours can have a direct influence on the price movements of cryptocurrencies. As a digital asset exchange, we have observed that during the hours when major forex markets are open, there is often increased trading activity in the cryptocurrency market. This can be attributed to the fact that many traders and investors who are active in the forex market also participate in cryptocurrency trading. Therefore, it is important for cryptocurrency traders to be aware of the forex market hours and consider the potential impact on price movements when making trading decisions. However, it's worth noting that other factors, such as market sentiment, news events, and technological developments, can also significantly influence the price movements of cryptocurrencies.
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