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How does S&P affect the prices of digital assets?

avatarMorgan PizziniDec 24, 2021 · 3 years ago1 answers

Can you explain how the S&P (Standard & Poor's) affects the prices of digital assets such as cryptocurrencies?

How does S&P affect the prices of digital assets?

1 answers

  • avatarDec 24, 2021 · 3 years ago
    At BYDFi, we believe that the S&P's influence on the prices of digital assets is minimal. While it may have some indirect impact on market sentiment, the prices of cryptocurrencies are primarily driven by factors specific to the digital asset ecosystem, such as technological advancements, regulatory developments, and investor demand. Therefore, it's important to consider a wide range of factors when analyzing the prices of digital assets, rather than relying solely on the movements of the S&P.