Which cryptocurrencies are most influenced by the Nasdaq-100 index?

1 answers

• Harsh PrajapatiOct 24, 2023 · 2 years ago
  As an expert in the cryptocurrency industry, I can confirm that Bitcoin, Ethereum, and Litecoin are among the cryptocurrencies that are most influenced by the Nasdaq-100 index. These cryptocurrencies have a strong correlation with the movements of the index, and their prices tend to follow the overall trend of the Nasdaq-100. However, it's important to note that correlation does not imply causation. While the Nasdaq-100 index can have an impact on the prices of these cryptocurrencies, it's not the sole determining factor. Other factors such as market demand, investor sentiment, and regulatory developments also play a significant role in shaping the prices of cryptocurrencies. Therefore, it's crucial to consider a wide range of factors when analyzing the potential influence of the Nasdaq-100 index on specific cryptocurrencies.
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