How does the closing time of the forex market on Fridays affect cryptocurrency prices?

3 answers

• Bálint HorváthMar 20, 2024 · a year ago
  Absolutely! The closing time of the forex market on Fridays can indeed have an impact on cryptocurrency prices. This is because many cryptocurrency traders also participate in the forex market. When the forex market closes on Fridays, it means that these traders may not be actively trading or hedging their positions, which can lead to reduced liquidity in the cryptocurrency market. Reduced liquidity can potentially result in increased volatility and price fluctuations in cryptocurrencies. So, the closing time of the forex market on Fridays can indirectly affect cryptocurrency prices.
  590

  295
• Ra RaSep 19, 2020 · 5 years ago
  You bet! The closing time of the forex market on Fridays can influence cryptocurrency prices. As the forex market closes, some traders may decide to shift their focus to cryptocurrencies, leading to increased trading activity and potentially affecting prices. Additionally, the closing time of the forex market can also impact market sentiment. If there are significant movements or events in the forex market before it closes, it can create a ripple effect in the cryptocurrency market. So, keep an eye on the forex market's closing time if you want to stay informed about potential price movements in cryptocurrencies!
  620

  207
• Li HensonSep 03, 2022 · 3 years ago
  Definitely! The closing time of the forex market on Fridays can have an impact on cryptocurrency prices. When the forex market closes, it can result in a temporary decrease in trading volume and liquidity in the cryptocurrency market. This reduced liquidity can make it easier for large traders or market manipulators to influence prices. However, it's important to note that the impact may not always be significant, as the cryptocurrency market operates 24/7. So, while the closing time of the forex market on Fridays can have some effect, it's just one of many factors that can influence cryptocurrency prices.
  613

  154