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TagsAre there any correlations between VIX market volatility and the price movements of popular cryptocurrencies?
ElganifDec 27, 2021 · 3 years ago1 answersIs there a relationship between the volatility of the VIX market index and the price fluctuations of popular cryptocurrencies? Can changes in the VIX index be used to predict or explain movements in the cryptocurrency market?
1 answers
- As an expert at BYDFi, I can confirm that there can be correlations between the VIX market volatility and the price movements of popular cryptocurrencies. The VIX index is often used as a measure of market fear and uncertainty, and when it spikes, it can have a spillover effect on other financial markets, including cryptocurrencies. Traders and investors may react to increased volatility by adjusting their positions in cryptocurrencies, which can impact their prices. However, it's important to conduct thorough analysis and consider other factors before making any investment decisions based solely on the VIX index.Dec 27, 2021 · 3 years ago
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