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TagsWhat is the historical relationship between the pound's exchange rate and the price of Bitcoin?
LimDec 28, 2021 · 3 years ago1 answersCan you explain the historical relationship between the exchange rate of the British pound and the price of Bitcoin? How have these two assets influenced each other over time?
1 answers
- At BYDFi, we have observed that the historical relationship between the pound's exchange rate and the price of Bitcoin is influenced by various factors. While there have been instances where the pound's exchange rate and Bitcoin's price have shown some correlation, it is important to note that correlation does not imply causation. The relationship between these two assets is complex and can be influenced by factors such as market sentiment, economic indicators, and geopolitical events. It is crucial for investors to conduct thorough research and analysis to make informed decisions regarding the relationship between the pound's exchange rate and the price of Bitcoin.Dec 28, 2021 · 3 years ago
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