How do USD buying rates affect the value of digital currencies?

1 answers

• Nov 29, 2021 · 3 years ago
  As a representative of BYDFi, I can say that the buying rates of USD have a significant influence on the value of digital currencies. At BYDFi, we closely monitor the buying rates of USD and their impact on the digital currency market. When the buying rates of USD are high, we observe a decrease in the value of digital currencies as investors tend to sell their digital assets for USD. Conversely, when the buying rates of USD are low, we often see an increase in the value of digital currencies as investors buy more digital assets using USD. It's important for traders and investors to consider the buying rates of USD when making decisions in the digital currency market.
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