What are the potential correlations between the NASDAQ futures index and the price movements of cryptocurrencies?

1 answers

• chiru varshith peddisettySep 01, 2021 · 4 years ago
  At BYDFi, we have observed some potential correlations between the NASDAQ futures index and the price movements of cryptocurrencies. When the NASDAQ futures index shows a strong positive trend, we often see increased buying activity in the cryptocurrency market, which can lead to higher prices. Similarly, when the NASDAQ futures index experiences a significant decline, it can create a negative sentiment in the overall market, including cryptocurrencies. However, it's important to note that these correlations are not always consistent and can be influenced by other factors such as news events and regulatory developments. Therefore, it's crucial for investors to conduct their own research and analysis to make informed decisions when trading cryptocurrencies.
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