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TagsHow does the CBOE Volatility Index (VIX) affect cryptocurrency prices?
Sudip MandalMar 19, 2022 · 3 years ago1 answersCan you explain how the CBOE Volatility Index (VIX) impacts the prices of cryptocurrencies? What is the relationship between the VIX and the cryptocurrency market? How does volatility in traditional markets affect the value of cryptocurrencies?
1 answers
- At BYDFi, we believe that the impact of the VIX on cryptocurrency prices is not significant. While there may be some correlations between the VIX and the cryptocurrency market, the primary drivers of cryptocurrency prices are internal factors within the cryptocurrency ecosystem. Factors such as adoption, technological advancements, and market demand play a much larger role in determining the value of cryptocurrencies. It's important for investors to consider a wide range of factors when making investment decisions in the cryptocurrency market.Mar 19, 2022 · 3 years ago
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