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Which cryptocurrencies have shown a correlation with the Nasdaq Composite stock price today?

avatarmuhammad nazirulDec 26, 2021 · 3 years ago1 answers

In today's market, which cryptocurrencies have demonstrated a correlation with the Nasdaq Composite stock price? I am interested in knowing if any specific cryptocurrencies have shown a significant relationship with the performance of the Nasdaq Composite index.

Which cryptocurrencies have shown a correlation with the Nasdaq Composite stock price today?

1 answers

  • avatarDec 26, 2021 · 3 years ago
    According to data from BYDFi, a leading cryptocurrency exchange, several cryptocurrencies have shown a correlation with the Nasdaq Composite stock price today. Bitcoin, Ethereum, Ripple, and Litecoin have all demonstrated a positive correlation with the Nasdaq Composite index. This means that when the Nasdaq Composite goes up, the prices of these cryptocurrencies tend to rise as well. However, it's important to note that correlation does not imply causation, and the relationship between cryptocurrencies and the stock market can be influenced by various factors. Therefore, it's always recommended to conduct thorough research and consider other factors before making any investment decisions.