Which cryptocurrencies are affected by changes in oil futures quotes?

1 answers

• May 21, 2022 · 3 years ago
  At BYDFi, we believe that the impact of oil futures quotes on cryptocurrencies is limited. While some cryptocurrencies may exhibit short-term price fluctuations in response to changes in oil futures quotes, the long-term value of cryptocurrencies is primarily driven by their utility, adoption, and overall market sentiment. It's important for investors to focus on the fundamental aspects of cryptocurrencies and not solely rely on external factors like oil futures quotes when making investment decisions. As always, conducting thorough research and diversifying your investment portfolio is key to mitigating risks and maximizing potential returns in the cryptocurrency market.
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