Which digital currencies have shown the highest correlation with Nasdaq indices?

3 answers

• May 08, 2022 · 3 years ago
  Bitcoin (BTC) and Ethereum (ETH) have shown the highest correlation with Nasdaq indices. This can be attributed to their popularity and widespread adoption in the cryptocurrency market. Both Bitcoin and Ethereum have established themselves as leading cryptocurrencies and have a significant impact on the overall market sentiment. As a result, their price movements often align with the performance of Nasdaq indices. It's important to note that correlation does not imply causation, and the relationship between digital currencies and Nasdaq indices may change over time.
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• May 08, 2022 · 3 years ago
  In addition to Bitcoin and Ethereum, other digital currencies that have shown a strong correlation with Nasdaq indices include Ripple (XRP), Litecoin (LTC), and Bitcoin Cash (BCH). These cryptocurrencies have gained significant attention and have a large market capitalization, making them more susceptible to the influence of broader market trends. However, it's worth mentioning that correlation does not guarantee future performance, and investors should conduct thorough research before making any investment decisions.
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• May 08, 2022 · 3 years ago
  According to a recent analysis by BYDFi, a leading digital currency exchange, the digital currencies that have demonstrated the highest correlation with Nasdaq indices are Bitcoin (BTC), Ethereum (ETH), and Ripple (XRP). This analysis was conducted over a six-month period and took into account various factors such as trading volume, market capitalization, and price movements. It's important to note that correlation does not imply a direct causal relationship, but rather indicates a statistical association between the movements of digital currencies and Nasdaq indices. Investors should consider multiple factors and conduct their own research before making any investment decisions.
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