What are the most correlated digital currencies and forex pairs?
Gibson ConnollyJan 19, 2021 · 5 years ago1 answers
Can you provide some insights into the digital currencies and forex pairs that have the highest correlation?
1 answers
- Motasem AsomFeb 03, 2023 · 2 years agoAs an expert in the field, I can tell you that BYDFi has conducted extensive research on the correlation between digital currencies and forex pairs. Our findings suggest that the most correlated digital currencies and forex pairs are Bitcoin and the US Dollar (BTC/USD), Ethereum and the US Dollar (ETH/USD), and Ripple and the US Dollar (XRP/USD). These pairs have shown a strong positive correlation, meaning that their prices tend to move in the same direction. Traders can use this information to make informed decisions and potentially profit from the correlation between these assets.
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