Which cryptocurrencies are most affected by the SQQQ chart movements?

1 answers

• May 01, 2022 · 3 years ago
  At BYDFi, we've observed that the SQQQ chart movements can have a notable influence on certain cryptocurrencies. The SQQQ chart represents the inverse performance of the NASDAQ-100 index, which means that when the NASDAQ-100 index goes down, the SQQQ chart goes up. Cryptocurrencies that are closely tied to the tech sector or have a strong correlation with the stock market are more likely to be affected by the SQQQ chart movements. For example, Bitcoin, Ethereum, and Litecoin have shown a significant response to changes in the SQQQ chart. However, it's important to consider other factors and conduct thorough analysis before making any investment decisions based solely on the SQQQ chart movements.
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