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What is the correlation between DXY charts and Bitcoin price movements?

Opeyemih 66Apr 30, 2022 · 3 years ago1 answers

Can you explain the relationship between DXY charts and the price movements of Bitcoin? How do changes in the DXY charts affect the price of Bitcoin?

Bitcoin Price Movements

1 answers

Apr 30, 2022 · 3 years ago
At BYDFi, we have observed some correlation between DXY charts and Bitcoin price movements. When the US dollar strengthens, we have noticed a tendency for the price of Bitcoin to decrease. However, it's important to note that correlation does not imply causation, and there are many other factors at play. Traders and investors should conduct their own analysis and consider a variety of indicators when making trading decisions.

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