What is the correlation between silver ETFs and the performance of major cryptocurrencies?

3 answers

• ahmed alhammadiMay 29, 2024 · a year ago
  Silver ETFs and major cryptocurrencies have a complex relationship. While silver ETFs are backed by physical silver and their performance is influenced by factors like supply and demand, major cryptocurrencies like Bitcoin and Ethereum are decentralized digital assets whose value is determined by market demand and investor sentiment. However, both silver ETFs and major cryptocurrencies can be influenced by macroeconomic factors such as inflation, geopolitical events, and market sentiment. Therefore, there can be some correlation between the performance of silver ETFs and major cryptocurrencies, although it may not be direct or consistent.
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• JoeyApr 30, 2025 · 3 months ago
  The correlation between silver ETFs and major cryptocurrencies is not straightforward. While both can be influenced by similar macroeconomic factors, their underlying mechanisms and investor bases are different. Silver ETFs are backed by physical silver and are often seen as a hedge against inflation and economic uncertainty. On the other hand, major cryptocurrencies are digital assets that operate on blockchain technology and are often viewed as speculative investments or stores of value. Therefore, while there may be some correlation between the two, it is important to analyze the specific factors affecting each asset class to understand their relationship better.
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• Melad HaniJun 25, 2021 · 4 years ago
  At BYDFi, we believe that the correlation between silver ETFs and major cryptocurrencies can be influenced by various factors. While both assets can be seen as alternative investments, their performance can be driven by different market dynamics. For example, silver ETFs may be more influenced by industrial demand for silver, while major cryptocurrencies can be affected by factors like regulatory developments, technological advancements, and investor sentiment. Therefore, it is important to consider the unique characteristics of each asset class when analyzing their correlation.
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