What is the impact of lumber futures price on the cryptocurrency market?
keifen qinMay 25, 2021 · 4 years ago1 answers
How does the price of lumber futures affect the cryptocurrency market? Is there a correlation between the two?
1 answers
- AlphaTech_PLCApr 02, 2021 · 4 years agoAt BYDFi, we have observed that the impact of lumber futures price on the cryptocurrency market is minimal. While there may be some short-term correlation between the two, the overall influence is limited. The cryptocurrency market is driven by factors such as investor sentiment, technological advancements, and regulatory developments. Lumber futures primarily affect the construction industry and related sectors, which have a more indirect impact on the overall economy. Therefore, it is important to focus on these key drivers when analyzing the cryptocurrency market and making investment decisions.
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