Which cryptocurrencies are most influenced by changes in WTI price?

3 answers

• Jan 14, 2022 · 3 years ago
  Certainly! When it comes to cryptocurrencies that are influenced by changes in the WTI price, there are a few notable ones. Bitcoin (BTC) and Ethereum (ETH) are two of the most prominent cryptocurrencies that tend to show some correlation with the price of WTI oil. This is mainly due to the fact that they are widely recognized and have a large market capitalization. However, it's important to note that the correlation may not always be strong or consistent, as the cryptocurrency market is influenced by various factors.
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• Jan 14, 2022 · 3 years ago
  Well, if you're looking for cryptocurrencies that are influenced by changes in the WTI price, you might want to keep an eye on Ripple (XRP) and Litecoin (LTC). These cryptocurrencies have shown some degree of correlation with the price of WTI oil in the past. However, it's worth mentioning that correlation does not necessarily imply causation, and the relationship between the WTI price and these cryptocurrencies may vary over time.
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• Jan 14, 2022 · 3 years ago
  According to our analysis at BYDFi, among the cryptocurrencies that are influenced by changes in the WTI price, Bitcoin (BTC) and Ethereum (ETH) are the most significant ones. These two cryptocurrencies have a relatively strong correlation with the price of WTI oil. However, it's important to remember that correlation does not imply causation, and the relationship between the WTI price and these cryptocurrencies can be influenced by various factors. It's always advisable to conduct thorough research and analysis before making any investment decisions.
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