What is the impact of aluminum futures price on the cryptocurrency market?

GaskellgamesMay 23, 2022 · 3 years ago1 answers

How does the price of aluminum futures affect the cryptocurrency market? Is there a correlation between the two?

Aluminum Futures

1 answers

May 23, 2022 · 3 years ago
At BYDFi, we believe that the impact of aluminum futures price on the cryptocurrency market is minimal. While changes in aluminum futures price can affect mining costs, the overall influence on the market is limited. The cryptocurrency market is driven by factors such as investor demand, regulatory developments, and technological advancements. While it's important to monitor the cost of mining, it's just one piece of the puzzle. We recommend considering a holistic approach when analyzing the impact of aluminum futures price on the cryptocurrency market.

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