How can the performance of the NASDAQ 100 stocks affect the value of cryptocurrencies?

1 answers

• May 06, 2022 · 3 years ago
  As a representative index of the technology sector, the performance of the NASDAQ 100 stocks can have a direct impact on the value of cryptocurrencies. Many cryptocurrencies, such as Bitcoin and Ethereum, are closely tied to the technology industry and are often seen as alternative investments to traditional tech stocks. Therefore, when the NASDAQ 100 stocks perform well, it can attract investors to the technology sector, including cryptocurrencies, leading to an increase in demand and potentially higher prices. Conversely, if the NASDAQ 100 stocks underperform, it may result in a decrease in investor interest in the technology sector, which can negatively affect the value of cryptocurrencies.
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