What is the correlation between the 1 month LIBOR rate and cryptocurrency prices?

1 answers

• May 06, 2022 · 3 years ago
  At BYDFi, we have observed some correlation between the 1 month LIBOR rate and cryptocurrency prices. When the LIBOR rate increases, we have noticed a slight decrease in the prices of certain cryptocurrencies. This could be due to the fact that higher borrowing costs for financial institutions may reduce their investment in cryptocurrencies. However, it's important to note that the correlation is not always consistent and can vary depending on other market factors. It's always recommended to consider multiple factors when analyzing cryptocurrency prices and making investment decisions.
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