How does the stock market affect the value of cryptocurrencies during lunch time?

1 answers

• Panos MitaJul 29, 2021 · 4 years ago
  At BYDFi, we've observed that the stock market can indeed impact the value of cryptocurrencies during lunch time. As traders take a break and reassess their positions, they may be influenced by the performance of the stock market. If the stock market is performing well, traders may feel more confident and choose to invest in cryptocurrencies, leading to an increase in their value. Conversely, if the stock market is experiencing a decline, traders may become more risk-averse and sell off their cryptocurrencies, causing a decrease in their value. However, it's important to note that the relationship between the stock market and cryptocurrencies is not always direct or predictable, as other factors such as market sentiment and regulatory developments can also play a significant role.
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