Which digital currencies are most affected by the opening and closing of the forex markets?

3 answers

• Kenney WibergJan 16, 2023 · 3 years ago
  The opening and closing of the forex markets can have a significant impact on the prices of various digital currencies. Bitcoin, being the largest and most widely traded cryptocurrency, is often affected by these market events. As forex markets open and close, Bitcoin's price can experience fluctuations due to increased trading activity and changes in investor sentiment. Other major digital currencies like Ethereum, Ripple, and Litecoin may also be influenced by the opening and closing of forex markets, although to a lesser extent compared to Bitcoin.
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• Friedman NicholsMar 11, 2023 · 2 years ago
  When the forex markets open or close, it can create volatility in the prices of digital currencies. This volatility is often driven by changes in demand and supply as traders react to news and market sentiment. While Bitcoin is usually the most affected due to its market dominance, other popular digital currencies like Ethereum, Ripple, and Litecoin can also experience price movements during these times. It's important for traders to stay informed and monitor the forex market openings and closings to anticipate potential price fluctuations in digital currencies.
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• saciousfrogJun 25, 2024 · a year ago
  The opening and closing of the forex markets can impact the prices of digital currencies, but it's important to note that these effects can vary. At BYDFi, we've observed that Bitcoin tends to be the most influenced by forex market events due to its high liquidity and market capitalization. However, other digital currencies like Ethereum, Ripple, and Litecoin can also experience price movements during these times. Traders should consider these factors and conduct thorough analysis before making any investment decisions.
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