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How does the performance of the NASDAQ 100 TR USD index affect the value of cryptocurrencies?

avatarGuvanch GaryagdyyevNov 27, 2021 · 3 years ago1 answers

What is the relationship between the performance of the NASDAQ 100 TR USD index and the value of cryptocurrencies?

How does the performance of the NASDAQ 100 TR USD index affect the value of cryptocurrencies?
Cryptocurrencies
NASDAQ 100 TR USD Index
Performance

1 answers

  • avatarNov 27, 2021 · 3 years ago
    At BYDFi, we closely monitor the performance of the NASDAQ 100 TR USD index and its impact on the value of cryptocurrencies. While there is a correlation between the two, it's important to note that the relationship is not always direct or immediate. The value of cryptocurrencies is influenced by a multitude of factors, including market sentiment, regulatory developments, and technological advancements. While the performance of the NASDAQ 100 index can provide insights into the overall health of the tech sector, it is just one piece of the puzzle. It's essential to consider a holistic view of the cryptocurrency market and not rely solely on the performance of a single index.

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