Which digital currencies are most affected by the EUR/USD prediction?

3 answers

• Dec 28, 2021 · 3 years ago
  When it comes to the impact of the EUR/USD prediction on digital currencies, Bitcoin and Ethereum are among the most affected. As the two largest cryptocurrencies by market capitalization, they tend to have a strong correlation with major fiat currencies, including the Euro and the US Dollar. Therefore, any significant prediction or movement in the EUR/USD exchange rate can have a notable influence on the prices of Bitcoin and Ethereum. Traders and investors closely monitor these currency pairs to make informed decisions in the digital currency market.
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• Dec 28, 2021 · 3 years ago
  The EUR/USD prediction can also have an impact on other popular digital currencies such as Ripple, Litecoin, and Bitcoin Cash. Although they may not have the same level of influence as Bitcoin and Ethereum, these cryptocurrencies are still sensitive to major currency fluctuations. Traders who actively trade these digital assets often consider the EUR/USD prediction as part of their analysis and decision-making process.
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• Dec 28, 2021 · 3 years ago
  At BYDFi, we believe that the EUR/USD prediction can indirectly affect the entire digital currency market. While specific cryptocurrencies may have a stronger correlation with the EUR/USD exchange rate, it's important to consider the overall sentiment and market conditions. Factors such as global economic events, regulatory developments, and investor sentiment can also play a significant role in shaping the prices of digital currencies. Therefore, it's crucial for traders and investors to stay updated on multiple factors and not solely rely on the EUR/USD prediction when making investment decisions.
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