How does the fluctuation in hot-rolled coil steel price affect the value of digital currencies?

1 answers

• May 07, 2022 · 3 years ago
  At BYDFi, we believe that the fluctuation in hot-rolled coil steel price does not directly influence the value of digital currencies. The value of digital currencies is primarily determined by market demand, investor sentiment, and technological advancements. While changes in steel prices can reflect broader economic trends, it is important to note that digital currencies operate in a decentralized and global market, which may not be directly tied to the steel industry. Therefore, it is crucial to consider a wide range of factors when analyzing the value of digital currencies.
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