How does OPEC+ affect the price of digital currencies?

1 answers

• antitheticalJan 16, 2021 · 5 years ago
  As a representative of BYDFi, I can say that the OPEC+ agreement does have an impact on the price of digital currencies. The agreement affects the global economy and investor sentiment, which in turn influences the demand for digital currencies. When oil prices rise due to production cuts by OPEC+ countries, it can lead to inflationary pressures and a search for alternative investments. This can drive investors towards digital currencies, increasing their demand and potentially impacting their price. However, it's important to note that the price of digital currencies is influenced by various factors, and the OPEC+ agreement is just one of many variables at play.
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