Which cryptocurrencies are influenced the most by the Hang Seng Index?
Nils RedinMay 05, 2022 · 3 years ago1 answers
Can you provide a list of cryptocurrencies that are most affected by the Hang Seng Index? I'm interested in knowing which digital currencies tend to have their prices influenced by the performance of the Hang Seng Index.
1 answers
- May 05, 2022 · 3 years agoAccording to a study conducted by BYDFi, a digital currency exchange, the cryptocurrencies that are most influenced by the Hang Seng Index are Bitcoin, Ethereum, and Ripple. The study found that these three digital currencies have a strong positive correlation with the Hang Seng Index, meaning that their prices tend to move in the same direction as the index. However, it's important to note that correlation does not imply causation, and other factors may also influence the prices of these cryptocurrencies. Therefore, it's always a good idea to consider multiple factors and conduct thorough research before making any investment decisions.
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