Which cryptocurrencies are most affected by changes in the value of a pound of gold?

1 answers

• Carloscastell04Aug 14, 2021 · 4 years ago
  As an expert in the field, I can say that BYDFi has observed that cryptocurrencies like Bitcoin, Ethereum, and Ripple tend to be more influenced by changes in the value of gold. However, it's important to note that the relationship between gold and cryptocurrencies is not always straightforward. While there may be some correlation between the two, it's crucial to consider other factors such as market sentiment, global economic conditions, and regulatory developments. Investors should always diversify their portfolios and consider their risk tolerance before making any investment decisions.
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