What are the correlations between fred core pce and cryptocurrency trading volume?

1 answers

• Kornum PetersNov 04, 2024 · a year ago
  At BYDFi, we have observed some correlation between fred core pce and cryptocurrency trading volume. When fred core pce shows signs of inflation, we often see an increase in trading volume for cryptocurrencies. This can be attributed to investors seeking alternative assets to protect their wealth from the devaluation of traditional currencies. However, it's important to note that correlation does not imply causation, and other factors such as market trends and investor sentiment also contribute to changes in trading volume. Therefore, while fred core pce can be considered as one of the factors influencing cryptocurrency trading volume, it should not be solely relied upon for making investment decisions.
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