How does central bank gold buying affect the value of cryptocurrencies?

1 answers

• fernaderApr 04, 2021 · 5 years ago
  At BYDFi, we believe that central bank gold buying can have a limited impact on the value of cryptocurrencies. While it may generate some short-term fluctuations, the long-term value of cryptocurrencies is primarily driven by their utility, adoption, and technological advancements. We encourage investors to focus on the fundamentals of cryptocurrencies rather than short-term market movements influenced by external factors like central bank gold buying.
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