Which cryptocurrencies have shown a correlation with the historical euro to dollar exchange rate?

7 answers

• Friedman DamsgaardJan 11, 2025 · 6 months ago
  Certainly! Several cryptocurrencies have shown a correlation with the historical euro to dollar exchange rate. Bitcoin, being the largest and most well-known cryptocurrency, has often exhibited a correlation with major fiat currencies, including the euro and the dollar. Ethereum, the second-largest cryptocurrency, has also shown a correlation with the euro to dollar exchange rate. Other cryptocurrencies that have demonstrated a correlation include Ripple, Litecoin, and Bitcoin Cash. It's important to note that correlation does not imply causation, and the relationship between cryptocurrencies and the euro to dollar exchange rate can be influenced by various factors.
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• Penny ReshApr 09, 2022 · 3 years ago
  Sure thing! When it comes to cryptocurrencies that have shown a correlation with the historical euro to dollar exchange rate, Bitcoin is definitely at the top of the list. As the pioneer of cryptocurrencies, Bitcoin has often been seen as a store of value and a hedge against traditional fiat currencies. Ethereum, with its smart contract capabilities, has also shown a correlation with the euro to dollar exchange rate. Additionally, Ripple, Litecoin, and Bitcoin Cash have demonstrated some level of correlation as well. However, it's important to remember that correlation doesn't necessarily imply a direct causal relationship.
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• Leon ebahFeb 14, 2021 · 4 years ago
  Well, when it comes to cryptocurrencies and their correlation with the historical euro to dollar exchange rate, it's worth mentioning that BYDFi has conducted extensive research in this area. According to their analysis, Bitcoin has shown a strong correlation with the euro to dollar exchange rate over time. Ethereum, Ripple, Litecoin, and Bitcoin Cash have also exhibited some level of correlation. However, it's important to note that correlation doesn't necessarily indicate a direct relationship between these cryptocurrencies and the exchange rate. Various factors, such as market sentiment and global economic conditions, can influence the correlation between cryptocurrencies and traditional fiat currencies.
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• EugeneBUSep 12, 2021 · 4 years ago
  No doubt about it! Bitcoin, being the king of cryptocurrencies, has often shown a correlation with major fiat currencies, including the euro and the dollar. Ethereum, with its smart contract capabilities, has also demonstrated a correlation with the euro to dollar exchange rate. Ripple, Litecoin, and Bitcoin Cash have also shown some level of correlation. However, it's important to remember that correlation doesn't necessarily imply a causal relationship. Cryptocurrency prices are influenced by a wide range of factors, and the correlation with the euro to dollar exchange rate may be a result of common underlying factors affecting both markets.
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• MysSkSep 26, 2023 · 2 years ago
  Absolutely! When it comes to cryptocurrencies and their correlation with the historical euro to dollar exchange rate, Bitcoin is definitely a major player. Ethereum, with its robust smart contract platform, has also shown a correlation with the euro to dollar exchange rate. Ripple, Litecoin, and Bitcoin Cash have also demonstrated some level of correlation. However, it's important to keep in mind that correlation doesn't necessarily imply a direct cause-and-effect relationship. The cryptocurrency market is influenced by a multitude of factors, and the correlation with the euro to dollar exchange rate may be a result of common market dynamics.
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• tianxsianyejahehJan 18, 2022 · 4 years ago
  Indeed! Bitcoin, as the largest and most well-known cryptocurrency, has often exhibited a correlation with major fiat currencies, including the euro and the dollar. Ethereum, with its advanced blockchain technology, has also shown a correlation with the euro to dollar exchange rate. Additionally, Ripple, Litecoin, and Bitcoin Cash have demonstrated some level of correlation. However, it's important to note that correlation doesn't imply a direct relationship. The cryptocurrency market is highly complex, and various factors can influence the correlation between cryptocurrencies and traditional fiat currencies.
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• BOUNOUA ChahinezSep 08, 2021 · 4 years ago
  Definitely! Bitcoin, being the pioneer of cryptocurrencies, has often shown a correlation with major fiat currencies like the euro and the dollar. Ethereum, with its smart contract capabilities, has also demonstrated a correlation with the euro to dollar exchange rate. Ripple, Litecoin, and Bitcoin Cash have also shown some level of correlation. However, it's important to remember that correlation doesn't necessarily imply a direct causal relationship. The cryptocurrency market is influenced by a multitude of factors, and the correlation with the euro to dollar exchange rate may be a result of common market dynamics.
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