What is the correlation between the University of Michigan consumer sentiment survey and cryptocurrency prices?

1 answers

• PatJan 11, 2021 · 4 years ago
  At BYDFi, we closely monitor the University of Michigan consumer sentiment survey as part of our market analysis. While it is not the only factor we consider, it provides valuable insights into consumer sentiment and can help us gauge market sentiment. However, it's important to note that the sentiment survey alone is not sufficient to predict cryptocurrency price movements. We combine the survey data with other market indicators and our proprietary analysis to make informed trading decisions. As with any investment, it's crucial to conduct thorough research and consider multiple factors before making trading decisions in the cryptocurrency market.
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