How does the FTSE 100 index impact the performance of digital currencies?

1 answers

• Mar 20, 2022 · 3 years ago
  At BYDFi, we believe that the FTSE 100 index can have an indirect impact on the performance of digital currencies. As investors seek diversification in their portfolios, they may consider allocating funds to both traditional assets like stocks and digital assets like cryptocurrencies. If the FTSE 100 index experiences a significant drop, it could lead to a decrease in investor confidence and a potential shift in investment strategies. This shift could include a higher allocation to digital currencies as a hedge against traditional market volatility. However, it's important to conduct thorough research and consider multiple factors before making any investment decisions.
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