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How does EOD affect the value of digital currencies?

avatarRavanDec 26, 2021 · 3 years ago1 answers

Can you explain how the end of day (EOD) affects the value of digital currencies? I've heard that there can be significant price movements during this time, but I'm not sure why. Could you shed some light on this?

How does EOD affect the value of digital currencies?

1 answers

  • avatarDec 26, 2021 · 3 years ago
    When it comes to the value of digital currencies, the end of day (EOD) can have a substantial impact. During this time, traders and investors analyze the day's performance and make decisions based on their findings. If a digital currency has shown strong growth throughout the day, investors may be more inclined to hold onto their positions or even buy more, driving up the value. Conversely, if a currency has experienced a decline, investors may choose to sell off their holdings, causing the value to drop. EOD is a critical period for digital currencies, as it can determine their short-term trajectory.