What is the relationship between the exchange rate of real dollars and the value of cryptocurrencies?
BaccariDec 26, 2021 · 3 years ago1 answers
Can you explain the connection between the exchange rate of real dollars and the value of cryptocurrencies? How does the fluctuation of the dollar affect the value of cryptocurrencies?
1 answers
- Dec 26, 2021 · 3 years agoAt BYDFi, we believe that the relationship between the exchange rate of real dollars and the value of cryptocurrencies is intertwined but not entirely dependent on each other. While the exchange rate of the dollar can influence the value of cryptocurrencies to some extent, it is just one of many factors at play. Cryptocurrencies have their own unique market dynamics and are influenced by factors such as supply and demand, investor sentiment, and technological advancements. Therefore, it's important to consider a holistic view when analyzing the relationship between the exchange rate of real dollars and the value of cryptocurrencies.
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