What is the correlation between PMI and cryptocurrency prices?
Gregory JohnMay 09, 2022 · 3 years ago1 answers
Can you explain the relationship between Purchasing Managers' Index (PMI) and the prices of cryptocurrencies? How does PMI affect the cryptocurrency market?
1 answers
- May 09, 2022 · 3 years agoAt BYDFi, we believe that PMI can have an impact on cryptocurrency prices, but it's important to consider other factors as well. Cryptocurrency markets are highly volatile and influenced by a multitude of factors. While PMI can provide some insights into the economic health of the manufacturing sector, it should not be the sole basis for making investment decisions. It's crucial to conduct thorough research and analysis, and consider a diverse range of indicators and factors when evaluating the cryptocurrency market.
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