Which cryptocurrencies are most affected by the performance of a long dollar ETF?
DschKSep 30, 2021 · 4 years ago1 answers
Can you provide a list of cryptocurrencies that are most impacted by the performance of a long dollar ETF? I'm interested in knowing which cryptocurrencies are more sensitive to changes in the value of the dollar.
1 answers
- Mustapha OmaryMar 24, 2023 · 2 years agoAt BYDFi, we believe that the performance of a long dollar ETF can have a significant impact on the cryptocurrency market. As the value of the dollar increases, investors may seek alternative investment options such as cryptocurrencies, leading to an increase in demand and potentially driving up prices. However, it's important to note that the correlation between specific cryptocurrencies and the long dollar ETF can vary, and it's always advisable to diversify your investment portfolio to mitigate risks.
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