How does the forex market hours affect cryptocurrency trading?

3 answers

• Dec 28, 2021 · 3 years ago
  The forex market hours can have a significant impact on cryptocurrency trading. When the forex market is open, there tends to be higher trading volume and liquidity, which can lead to increased price volatility in cryptocurrencies. Traders often use forex market hours as a reference for when to expect higher trading activity in the cryptocurrency market. However, it's important to note that cryptocurrency trading remains active 24/7, even when the forex market is closed. The global nature of cryptocurrencies allows for continuous trading, regardless of the forex market hours.
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• Dec 28, 2021 · 3 years ago
  The forex market hours play a role in cryptocurrency trading, but it's not the sole determining factor. While the forex market provides a benchmark for trading activity, cryptocurrency prices can be influenced by various factors such as news events, regulatory developments, and market sentiment. Traders should consider a holistic approach when analyzing cryptocurrency markets, taking into account both the forex market hours and other relevant factors.
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• Dec 28, 2021 · 3 years ago
  As an expert at BYDFi, I can tell you that the forex market hours do have an impact on cryptocurrency trading. When the forex market is open, there tends to be higher trading volume and increased price volatility in cryptocurrencies. This is because many traders use forex as a reference point for their cryptocurrency trading strategies. However, it's important to note that cryptocurrency trading remains active 24/7, even when the forex market is closed. Traders should consider both the forex market hours and other factors when making trading decisions in the cryptocurrency market.
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