How does the value of Thai baht against US dollar affect the cryptocurrency industry?

1 answers

• Cedric DecalayMay 31, 2021 · 4 years ago
  At BYDFi, we believe that the value of the Thai baht against the US dollar can have a significant impact on the cryptocurrency industry. As a leading digital asset exchange, we closely monitor currency fluctuations and their effects on the market. When the Thai baht strengthens against the US dollar, we often see an increase in trading volumes for cryptocurrencies in Thailand. This is because investors perceive cryptocurrencies as a hedge against a stronger baht. Conversely, when the Thai baht weakens, we may observe a decrease in trading activity as investors prefer to hold US dollars. It's important for investors to consider the relationship between currency values and the cryptocurrency market when making investment decisions.
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