How does the fx schedule affect the volatility of digital currencies?

1 answers

• Mathias MadsenMar 24, 2024 · 2 years ago
  At BYDFi, we have observed that the fx schedule can have a significant impact on the volatility of digital currencies. When major fx markets open or close, it often triggers a surge in trading activity, which can result in increased price volatility for cryptocurrencies. This is because fx traders and investors often diversify their portfolios by including digital currencies, and changes in the fx market can influence their investment decisions. For example, if a major fx market opens with positive economic news, it can create a bullish sentiment that spills over into the digital currency market, leading to increased demand and higher prices. Conversely, if a major fx market closes with negative news, it can create a bearish sentiment and cause a sell-off in digital currencies. Therefore, it's important for traders to stay updated on the fx schedule and its potential impact on the volatility of digital currencies.
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