How does the price of 100 oz of gold affect the value of digital currencies?

1 answers

• Mar 07, 2022 · 3 years ago
  At BYDFi, we believe that the price of 100 oz of gold can have an indirect impact on the value of digital currencies. As a digital currency exchange, we observe that during times of economic uncertainty or market volatility, investors tend to seek alternative investment options, including digital currencies. This increased demand can drive up the value of digital currencies, independent of the price of gold. However, it's important to note that digital currencies are a separate asset class with their own unique characteristics and should be evaluated based on their individual merits.
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