Are there any specific cryptocurrencies that are more affected by the closure of US markets on Mondays?

3 answers

• Jan 13, 2022 · 3 years ago
  Yes, the closure of the US markets on Mondays can have an impact on the prices and trading volumes of certain cryptocurrencies. This is because the US markets are one of the largest and most influential in the world, and their closure can create a temporary lull in trading activity. However, it's important to note that the extent of the impact can vary depending on various factors such as the overall market sentiment, news events, and the specific cryptocurrency in question. Some cryptocurrencies may be more sensitive to the closure of the US markets due to their higher exposure to US-based investors or their correlation with traditional financial markets.
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• Jan 13, 2022 · 3 years ago
  Absolutely! When the US markets are closed on Mondays, it can create a ripple effect in the cryptocurrency market. While not all cryptocurrencies are equally affected, some may experience more significant price fluctuations and changes in trading volumes. This is because the closure of the US markets can lead to reduced liquidity and trading activity, which can amplify the impact of buying or selling pressure on specific cryptocurrencies. Traders and investors should be aware of this potential effect and consider it when making trading decisions.
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• Jan 13, 2022 · 3 years ago
  As an expert at BYDFi, I can confirm that the closure of the US markets on Mondays does have an impact on certain cryptocurrencies. At BYDFi, we have observed that cryptocurrencies with a higher correlation to traditional financial markets or those that are popular among US-based investors tend to be more affected. However, it's important to note that the impact is not limited to Mondays only and can extend to other days as well, depending on market conditions and events. Traders and investors should stay informed and monitor the market closely to make informed decisions.
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