How does the price chart of steel futures correlate with digital currencies?

1 answers

• Muthu AjayNov 21, 2023 · 2 years ago
  The price chart of steel futures and digital currencies may not have a direct correlation, but they can be influenced by similar factors. Steel futures represent the expected future price of steel, which is influenced by factors such as supply and demand, production capacity, and construction activity. On the other hand, digital currencies like Bitcoin and Ethereum are influenced by factors like market sentiment, regulatory developments, and technological advancements. While the two markets operate in different industries, they can both be affected by changes in the global economy, investor behavior, and geopolitical events. Therefore, it's important to consider the broader economic context when examining the relationship between the price chart of steel futures and digital currencies.
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