Which cryptocurrencies are affected by the forex calendar the most?

3 answers

• May 12, 2022 · 3 years ago
  As an expert in the field of cryptocurrencies, I can tell you that the cryptocurrencies most affected by the forex calendar are usually the major ones like Bitcoin, Ethereum, and Ripple. These cryptocurrencies are often influenced by major economic events and announcements, such as central bank decisions, GDP reports, and interest rate changes. Traders and investors closely monitor the forex calendar to anticipate potential market movements and adjust their trading strategies accordingly.
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• May 12, 2022 · 3 years ago
  When it comes to the impact of the forex calendar on cryptocurrencies, it's important to consider the correlation between traditional financial markets and the cryptocurrency market. Cryptocurrencies with a higher correlation to traditional currencies, such as stablecoins like Tether, are more likely to be affected by the forex calendar. On the other hand, cryptocurrencies with lower correlation, like privacy coins such as Monero or Zcash, may be less influenced by forex events. It's always a good idea to stay updated with the latest forex calendar and analyze the potential impact on different cryptocurrencies before making any trading decisions.
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• May 12, 2022 · 3 years ago
  According to my experience at BYDFi, a leading cryptocurrency exchange, the cryptocurrencies that are most affected by the forex calendar are Bitcoin, Ethereum, and Litecoin. These cryptocurrencies have a large market capitalization and are widely traded against fiat currencies. Any significant events or news related to the forex market can have a direct impact on their prices and trading volumes. Traders should pay close attention to the forex calendar and be prepared for potential volatility in these cryptocurrencies during important economic announcements.
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