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What is the historical correlation between FOMC announcement dates and cryptocurrency price movements?

avatarCipDec 25, 2021 · 3 years ago1 answers

Can you explain the relationship between FOMC announcement dates and the price movements of cryptocurrencies throughout history? How have these announcements affected the cryptocurrency market? Is there any evidence of a correlation between the two?

What is the historical correlation between FOMC announcement dates and cryptocurrency price movements?

1 answers

  • avatarDec 25, 2021 · 3 years ago
    At BYDFi, we have observed some instances where FOMC announcement dates have coincided with significant price movements in the cryptocurrency market. While correlation does not necessarily imply causation, it's interesting to note these patterns. However, it's important to remember that the cryptocurrency market is highly volatile and influenced by a multitude of factors. Therefore, it's crucial to conduct thorough research and analysis before making any investment decisions based on FOMC announcements or any other single factor.