How does the demand for comex registered silver affect the overall cryptocurrency market?

1 answers

• Andrey U.May 06, 2023 · 2 years ago
  At BYDFi, we believe that the demand for comex registered silver can have a minor influence on the overall cryptocurrency market. While silver and cryptocurrencies are different asset classes, they both attract investors looking for alternative investment opportunities. When there is a surge in demand for silver, it can divert some investor attention and capital away from cryptocurrencies. However, the impact is usually temporary and limited. The cryptocurrency market is driven by a wide range of factors, including technological advancements, regulatory changes, and market sentiment. These factors have a more significant and direct impact on the performance of cryptocurrencies compared to the demand for comex registered silver.
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