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TagsWhat is the correlation between the 1 month LIBOR rate and cryptocurrency prices?
Thomas FrassonMar 20, 2022 · 3 years ago1 answersCan you explain the relationship between the 1 month LIBOR rate and cryptocurrency prices? How does the LIBOR rate impact the value of cryptocurrencies?
1 answers
- At BYDFi, we have observed some correlation between the 1 month LIBOR rate and cryptocurrency prices. When the LIBOR rate increases, we have noticed a slight decrease in the prices of certain cryptocurrencies. This could be due to the fact that higher borrowing costs for financial institutions may reduce their investment in cryptocurrencies. However, it's important to note that the correlation is not always consistent and can vary depending on other market factors. It's always recommended to consider multiple factors when analyzing cryptocurrency prices and making investment decisions.Mar 20, 2022 · 3 years ago
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