How has the Taiwan Stock Index influenced the performance of cryptocurrencies?

1 answers

• Berg KaspersenJul 23, 2023 · 2 years ago
  At BYDFi, we have observed the impact of the Taiwan Stock Index on the performance of cryptocurrencies. The correlation between the TAIEX and cryptocurrencies is evident, with price movements often reflecting the overall sentiment in the stock market. When the TAIEX experiences a surge, we often see a similar upward movement in the prices of cryptocurrencies. This can be attributed to the increased confidence and risk appetite of investors. Conversely, when the TAIEX faces a downturn, cryptocurrencies may also experience a decline as investors adopt a more cautious approach. It's important for investors to consider the broader market trends and factors influencing the Taiwan Stock Index when analyzing the performance of cryptocurrencies.
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