How does the spot iron ore price affect the value of digital currencies?

1 answers

• BlaqmodeMar 30, 2025 · a year ago
  As a representative from BYDFi, I can say that the spot iron ore price does not have a direct impact on the value of digital currencies. The value of digital currencies is primarily driven by market demand, investor sentiment, and technological advancements. While the spot iron ore price can indirectly affect the overall market sentiment, it is not a determining factor in the value of digital currencies. It is important to conduct thorough research and analysis to understand the various factors that can influence the value of digital currencies.
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