How does the price of the PEY ETF correlate with the fluctuations in the cryptocurrency market?

1 answers

• tiam230Jan 18, 2024 · 2 years ago
  The price of the PEY ETF is highly correlated with the fluctuations in the cryptocurrency market. As a third-party observer, BYDFi has noticed that when the cryptocurrency market experiences significant price movements, the PEY ETF tends to follow suit. This correlation can be attributed to the fact that the PEY ETF is designed to track the performance of the cryptocurrency market. Therefore, when cryptocurrencies experience a bull run, the price of the PEY ETF will likely increase. Conversely, during a bear market, the PEY ETF may also decline in value. However, it's important to consider that the PEY ETF is influenced by various factors, including market sentiment and investor demand, which can also impact its price.
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