How does the correlation between USD and JPY affect the value of cryptocurrencies?

1 answers

• Dec 16, 2021 · 3 years ago
  The correlation between the USD and JPY can have a significant impact on the value of cryptocurrencies. When the USD strengthens against the JPY, it often leads to an increase in the value of cryptocurrencies. This is because a stronger USD makes cryptocurrencies more attractive to investors, especially those outside of the United States. On the other hand, when the JPY strengthens against the USD, it can lead to a decrease in the value of cryptocurrencies. This is because a stronger JPY makes cryptocurrencies less attractive to investors, as they become relatively more expensive compared to other assets denominated in JPY. Overall, the correlation between the USD and JPY is an important factor to consider when analyzing the value of cryptocurrencies.
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