What are the correlations between Hang Seng Index and the prices of cryptocurrencies?

1 answers

• MoldApr 30, 2021 · 5 years ago
  At BYDFi, we have observed a moderate correlation between the Hang Seng Index and the prices of cryptocurrencies. When the Hang Seng Index experiences a significant increase or decrease, it tends to have a corresponding impact on the prices of cryptocurrencies. However, it's important to note that this correlation is not always consistent and can be influenced by other factors. Cryptocurrencies are a highly volatile asset class, and their prices can be affected by a wide range of factors, including market sentiment, regulatory developments, and technological advancements. Therefore, while the Hang Seng Index can provide some insights into the overall market sentiment, it should not be the sole factor considered when making investment decisions in cryptocurrencies.
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