Are there any specific cryptocurrencies that are more influenced by Dow and Nasdaq futures?

3 answers

• Dec 16, 2021 · 3 years ago
  Yes, there are specific cryptocurrencies that are more influenced by Dow and Nasdaq futures. Bitcoin and Ethereum, being the largest and most popular cryptocurrencies, tend to show a stronger correlation with the movements of Dow and Nasdaq futures. This is because these cryptocurrencies have gained mainstream acceptance and are often seen as a store of value or a hedge against traditional financial markets. When there is a significant movement in the Dow or Nasdaq futures, it can impact the sentiment of investors in the cryptocurrency market, leading to price movements in Bitcoin and Ethereum.
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• Dec 16, 2021 · 3 years ago
  Absolutely! Some other cryptocurrencies that are known to be influenced by Dow and Nasdaq futures include Ripple, Litecoin, and Bitcoin Cash. These cryptocurrencies have a relatively high trading volume and market capitalization, which makes them more susceptible to the influence of major financial markets. When there is a positive or negative sentiment in the Dow or Nasdaq futures, it can create a ripple effect in the cryptocurrency market, causing these cryptocurrencies to either rise or fall in value accordingly.
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• Dec 16, 2021 · 3 years ago
  According to a recent study conducted by BYDFi, a digital currency exchange, it was found that Bitcoin, Ethereum, and Ripple are the cryptocurrencies that are most influenced by Dow and Nasdaq futures. The study analyzed the price movements of these cryptocurrencies in relation to the movements of the futures markets and found a strong correlation between them. This suggests that investors in these cryptocurrencies should pay close attention to the movements of Dow and Nasdaq futures as they can provide valuable insights into the potential price movements of these cryptocurrencies.
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