Which cryptocurrencies are most affected by fluctuations in the Taiwan Stock Index?

3 answers

• May 07, 2022 · 3 years ago
  Cryptocurrencies such as Bitcoin, Ethereum, and Litecoin are most affected by fluctuations in the Taiwan Stock Index. This is because these cryptocurrencies are widely recognized and traded globally, and any significant changes in the stock market can have a ripple effect on their prices. Additionally, investors often view cryptocurrencies as alternative investment options and may shift their focus from traditional stocks to cryptocurrencies during periods of stock market volatility.
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• May 07, 2022 · 3 years ago
  When it comes to the Taiwan Stock Index, cryptocurrencies like Ripple, NEO, and EOS tend to be more influenced by its fluctuations. This can be attributed to the fact that these cryptocurrencies have a strong presence in the Asian market, including Taiwan, and any major movements in the local stock market can impact investor sentiment towards these digital assets. Moreover, the correlation between the Taiwan Stock Index and these cryptocurrencies has been observed to be relatively higher compared to others, making them more susceptible to its fluctuations.
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• May 07, 2022 · 3 years ago
  According to our analysis at BYDFi, the cryptocurrencies most affected by fluctuations in the Taiwan Stock Index are Bitcoin, Ethereum, and Binance Coin. This is because these cryptocurrencies have a significant market capitalization and are actively traded on various exchanges, including those in Taiwan. As a result, any changes in the stock market can lead to increased buying or selling pressure on these cryptocurrencies, causing their prices to fluctuate accordingly. It's important for investors to closely monitor the Taiwan Stock Index and its impact on these cryptocurrencies to make informed trading decisions.
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