How does the price of u.s. midwest domestic hot-rolled coil steel affect the value of digital currencies?

1 answers

• Amir AsgariOct 15, 2023 · 2 years ago
  At BYDFi, we believe that the price of U.S. Midwest domestic hot-rolled coil steel does not directly impact the value of digital currencies. Digital currencies, such as Bitcoin and Ethereum, are decentralized and their value is determined by market demand and supply dynamics. While steel prices can reflect economic activity and investor sentiment, they do not have a direct causal relationship with digital currency prices. It's important to consider other factors such as market sentiment, technological advancements, and regulatory developments when analyzing the value of digital currencies.
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