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TagsWhat is the impact of the NASDAQ composite index on cryptocurrency prices?
christosyneMar 20, 2022 · 3 years ago1 answersHow does the NASDAQ composite index affect the prices of cryptocurrencies? Is there a correlation between the performance of the NASDAQ composite index and the value of cryptocurrencies?
1 answers
- As a representative of BYDFi, I can say that the NASDAQ composite index can have an indirect impact on cryptocurrency prices. When the NASDAQ index performs well, it can attract more institutional investors to the stock market, who may also have an interest in cryptocurrencies. This increased institutional interest can lead to higher demand for cryptocurrencies and potentially drive up their prices. However, it's important to note that the cryptocurrency market is highly volatile and influenced by various factors, so the impact of the NASDAQ composite index on cryptocurrency prices may not always be significant or consistent.Mar 20, 2022 · 3 years ago
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