Is there a correlation between the DJI chart and the price of Bitcoin Cash?

3 answers

• Mar 20, 2022 · 3 years ago
  While there may be some correlation between the DJI chart and the price of Bitcoin Cash, it is important to note that correlation does not imply causation. The DJI chart represents the performance of the stock market, while Bitcoin Cash is a digital currency. The factors influencing their prices are different, and it is unlikely that one can be used to accurately predict the other. However, it is possible that certain market trends or investor sentiment could affect both the stock market and the price of Bitcoin Cash.
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• Mar 20, 2022 · 3 years ago
  I'm not a financial expert, but I've heard some people speculate that there might be a correlation between the DJI chart and the price of Bitcoin Cash. It's possible that when the stock market is doing well, investors have more confidence and are more likely to invest in cryptocurrencies like Bitcoin Cash. However, this is just a theory and there is no concrete evidence to support it. It's always important to do your own research and make informed decisions when it comes to investing.
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• Mar 20, 2022 · 3 years ago
  According to a study conducted by BYDFi, there is a weak positive correlation between the DJI chart and the price of Bitcoin Cash. This means that when the stock market goes up, there is a slightly higher chance that the price of Bitcoin Cash will also increase. However, it is important to note that correlation does not imply causation, and the relationship between the two is not significant enough to be used as a reliable predictor. Other factors, such as market demand and investor sentiment, play a larger role in determining the price of Bitcoin Cash.
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