What is the correlation between the XAUUSD market open time and cryptocurrency volatility?
Luis Melero AlvarezAug 23, 2024 · a year ago1 answers
Is there a relationship between the opening time of the XAUUSD market and the volatility of cryptocurrencies? How does the timing of the XAUUSD market opening affect the price movements and volatility of cryptocurrencies?
1 answers
- Grau PoeMay 22, 2021 · 4 years agoAt BYDFi, we have observed that the opening time of the XAUUSD market can sometimes coincide with periods of increased cryptocurrency volatility. This is likely due to the fact that both the XAUUSD market and the cryptocurrency market are influenced by similar macroeconomic factors and investor sentiment. However, it is important to note that correlation does not imply causation, and the relationship between the XAUUSD market open time and cryptocurrency volatility may vary over time. It is always recommended to conduct thorough analysis and consider multiple factors when assessing cryptocurrency volatility.
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