Why is the forex market closed today and how does it affect the price of cryptocurrencies?

3 answers

• KiiteNov 28, 2020 · 5 years ago
  The forex market is closed today due to a public holiday. Since the forex market is one of the largest financial markets in the world, its closure can have a significant impact on the price of cryptocurrencies. With reduced trading volume and liquidity, the price of cryptocurrencies may become more volatile during these periods. Traders and investors may also shift their focus to other markets, such as the cryptocurrency market, leading to increased demand and potential price fluctuations.
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• McGee BridgesNov 17, 2021 · 4 years ago
  The forex market is closed today because it's a weekend. As for how it affects the price of cryptocurrencies, well, it depends. While the forex market and the cryptocurrency market are not directly linked, they do share some common factors that can influence each other. For example, if there is a major economic event or news that affects the forex market, it can also impact the sentiment and investor behavior in the cryptocurrency market, which in turn can affect the price of cryptocurrencies. However, it's important to note that the relationship between the forex market and cryptocurrencies is complex and can vary depending on various factors.
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• Kelleher MonradApr 04, 2025 · 5 months ago
  The forex market is closed today, but that doesn't necessarily mean it will have a direct impact on the price of cryptocurrencies. While there can be some correlation between the two markets, it's important to consider other factors as well. The price of cryptocurrencies is influenced by a wide range of factors, including market sentiment, investor demand, regulatory developments, technological advancements, and macroeconomic conditions. While the closure of the forex market may lead to reduced trading activity and liquidity, it's just one piece of the puzzle. Traders and investors should consider a holistic view of the market and not rely solely on the closure of the forex market to predict the price movements of cryptocurrencies.
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