Are there any correlations between the opening of the Hang Seng and the trading volume of digital currencies?

1 answers

• Dec 29, 2021 · 3 years ago
  At BYDFi, we have observed a correlation between the opening of the Hang Seng Index (HSI) and the trading volume of digital currencies. When the HSI opens with a strong performance, we often see an increase in trading volume for digital currencies. This can be attributed to the positive market sentiment generated by the HSI's performance, which influences investor confidence and encourages higher trading activity. However, it's worth noting that the correlation is not always consistent and can be influenced by other market factors. It's important for traders and investors to monitor both the HSI and digital currency market trends to make informed decisions.
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