What is the correlation between EUR/AUD and cryptocurrencies?

1 answers

• May 10, 2022 · 3 years ago
  At BYDFi, we closely monitor the correlation between EUR/AUD and cryptocurrencies. While the relationship between the EUR/AUD exchange rate and cryptocurrencies is not always straightforward, we have observed some patterns. Generally, when the EUR strengthens against the AUD, it tends to have a positive impact on the value of cryptocurrencies. This is because a stronger EUR can attract more investors and increase demand for cryptocurrencies. However, it's important to note that this correlation is not always consistent and can be influenced by various external factors. It's always advisable to conduct thorough research and analysis before making any investment decisions based on the correlation between EUR/AUD and cryptocurrencies.
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