Which cryptocurrencies are affected by live gold futures?

5 answers

• Stuti GuptaApr 25, 2021 · 4 years ago
  Certainly! Several cryptocurrencies are influenced by live gold futures, as the price of gold often has a significant impact on the broader financial markets. Some of the cryptocurrencies that tend to be affected by live gold futures include Bitcoin, Ethereum, Ripple, Litecoin, and Bitcoin Cash. These cryptocurrencies are considered to be more closely tied to traditional financial markets and are therefore more likely to be influenced by gold futures price movements. It's important to note that the correlation between gold futures and cryptocurrencies can vary over time, so it's always a good idea to stay updated on market trends.
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• JonyleoNov 24, 2021 · 4 years ago
  Gold futures can have an impact on various cryptocurrencies. Bitcoin, being the largest and most well-known cryptocurrency, is often affected by gold futures price movements. Other cryptocurrencies like Ethereum, Ripple, Litecoin, and Bitcoin Cash may also experience some influence from live gold futures. However, it's important to keep in mind that the relationship between gold futures and cryptocurrencies is not always straightforward and can be influenced by a variety of factors. It's always a good idea to do thorough research and consult with experts before making any investment decisions.
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• SHUBHAM CHOUDHARYJun 25, 2024 · a year ago
  Gold futures can have an impact on certain cryptocurrencies, as they are often seen as a safe haven asset. When the price of gold futures rises or falls, it can create a ripple effect in the cryptocurrency market. However, it's important to note that the extent of the impact can vary depending on the specific cryptocurrency and market conditions. For example, at BYDFi, we have observed that Bitcoin and Ethereum tend to be more closely correlated with gold futures, while other cryptocurrencies may have a weaker or no correlation. It's always recommended to closely monitor market trends and consult with financial experts to make informed investment decisions.
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• shrekJun 14, 2023 · 2 years ago
  Live gold futures can have an influence on the prices of certain cryptocurrencies. Bitcoin, being the most dominant cryptocurrency, is often considered to be affected by gold futures. Other cryptocurrencies like Ethereum, Ripple, Litecoin, and Bitcoin Cash may also show some correlation with gold futures price movements. However, it's important to remember that the cryptocurrency market is highly volatile and influenced by various factors, so the relationship between gold futures and cryptocurrencies may not always be consistent. It's advisable to stay informed about market trends and consult with experts before making any investment decisions.
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• Davids MovingJan 03, 2022 · 4 years ago
  The impact of live gold futures on cryptocurrencies can vary. While some cryptocurrencies like Bitcoin, Ethereum, Ripple, Litecoin, and Bitcoin Cash may show some correlation with gold futures, others may not be as affected. It's important to note that the cryptocurrency market is highly volatile and influenced by a wide range of factors, including market sentiment, regulatory developments, and technological advancements. Therefore, it's always recommended to conduct thorough research and consult with financial experts before making any investment decisions.
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