How does the closing time of the forex market on Friday affect cryptocurrency prices?

3 answers

• Caio CoelhoJun 02, 2022 · 3 years ago
  Yes, the closing time of the forex market on Friday can affect cryptocurrency prices. When the forex market closes, it can lead to decreased liquidity and trading volume, which may result in increased volatility in the cryptocurrency market. Traders who are active in both the forex and cryptocurrency markets may adjust their positions or take profits before the weekend, which can influence the prices of cryptocurrencies. Additionally, news or events that occur during the forex market closing time can have a delayed impact on cryptocurrency prices when the market reopens on Monday.
  587

  294
• Pavel GartsevApr 23, 2022 · 4 years ago
  Definitely! The closing time of the forex market on Friday can have a ripple effect on cryptocurrency prices. As traders wind down their forex positions and prepare for the weekend, they may also make adjustments to their cryptocurrency holdings. This can create shifts in supply and demand dynamics, leading to price movements in the cryptocurrency market. Furthermore, any significant news or developments that occur during the forex market closing time can impact market sentiment and influence cryptocurrency prices when trading resumes.
  541

  181
• CinkowyyJul 03, 2023 · 2 years ago
  Absolutely! The closing time of the forex market on Friday can influence cryptocurrency prices. As the forex market closes, traders may shift their focus to the cryptocurrency market, leading to increased trading activity and potential price fluctuations. Additionally, the closing time of the forex market can coincide with the release of important economic data or news events, which can impact market sentiment and drive cryptocurrency prices. It's important for traders to stay informed about both the forex market and cryptocurrency market to anticipate potential price movements.
  585

  147