Which digital currencies are most affected by the WTI trading hours?

3 answers

• Dec 26, 2021 · 3 years ago
  The WTI trading hours can have a significant impact on certain digital currencies. Cryptocurrencies such as Bitcoin, Ethereum, and Litecoin are among the most affected. During the WTI trading hours, these cryptocurrencies may experience increased volatility and price fluctuations. This is because the WTI crude oil market is closely tied to global economic factors, and any significant changes in oil prices can have a ripple effect on the cryptocurrency market. Traders and investors should closely monitor the WTI trading hours and consider the potential impact on their digital currency holdings.
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• Dec 26, 2021 · 3 years ago
  When it comes to the WTI trading hours, some digital currencies are more sensitive to price movements than others. For example, Ripple (XRP) and Bitcoin Cash (BCH) have shown a higher correlation with oil price fluctuations during these trading hours. This means that if there are significant changes in the WTI crude oil market, it could potentially impact the prices of Ripple and Bitcoin Cash. However, it's important to note that correlation does not necessarily imply causation, and other factors can also influence the prices of these digital currencies.
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• Dec 26, 2021 · 3 years ago
  According to a study conducted by BYDFi, the digital currencies most affected by the WTI trading hours are Bitcoin, Ethereum, and Ripple. These cryptocurrencies have shown a strong correlation with oil price movements during the WTI trading hours. This correlation can be attributed to the fact that these digital currencies are widely traded and have a large market capitalization. Traders and investors should be aware of the potential impact of the WTI trading hours on these cryptocurrencies and adjust their trading strategies accordingly.
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