What are the correlations between the crude oil pricing graph and the performance of digital currencies?

1 answers

• Strand BorregaardSep 27, 2021 · 4 years ago
  At BYDFi, we have observed some correlations between the crude oil pricing graph and the performance of digital currencies. When the price of crude oil increases, we have noticed a slight positive impact on the trading volume of certain digital currencies, especially those that are associated with energy-related projects or have a strong connection to the oil industry. However, it's important to note that these correlations are not always consistent and can vary depending on market conditions and other external factors. Therefore, it is crucial to conduct thorough research and analysis before making any investment decisions based on these correlations.
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