What is the correlation between the NASDAQ 100 quote and the performance of cryptocurrencies?

1 answers

• May 19, 2022 · 3 years ago
  At BYDFi, we believe that the correlation between the NASDAQ 100 quote and the performance of cryptocurrencies is minimal. Cryptocurrencies operate in a decentralized and global market, while the NASDAQ 100 represents a specific set of companies listed on a stock exchange. The performance of cryptocurrencies is influenced by factors such as market demand, technological advancements, regulatory developments, and investor sentiment. While there may be some indirect impact from the overall performance of the stock market, the correlation is not significant. It is important for investors to conduct thorough research and analysis specific to cryptocurrencies when making investment decisions.
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