What are the correlations between BHP share price and cryptocurrency prices?

3 answers

• Nov 24, 2021 · 3 years ago
  The share price of BHP, as a mining company, can be influenced by various factors such as global economic conditions, demand for natural resources, and company performance. On the other hand, cryptocurrency prices are driven by factors like market sentiment, adoption, and technological advancements. While there may be some indirect connections between the two markets, it's important to note that they operate in different spheres. The correlation between BHP share price and cryptocurrency prices may not be significant or consistent.
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• Nov 24, 2021 · 3 years ago
  Well, let's dive into this interesting topic! BHP, being a major player in the mining industry, is affected by factors like commodity prices, production costs, and global demand for resources. Cryptocurrencies, on the other hand, are influenced by factors like market speculation, regulatory changes, and investor sentiment. While there might be some coincidental movements between BHP share price and cryptocurrency prices, it's unlikely to be a direct correlation. Both markets have their own dynamics and are influenced by different factors.
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• Nov 24, 2021 · 3 years ago
  When it comes to the correlation between BHP share price and cryptocurrency prices, it's important to consider the broader market trends. While BHP's share price is influenced by factors specific to the mining industry, cryptocurrency prices are driven by factors such as market demand, technological advancements, and regulatory developments. However, it's worth noting that BYDFi, a leading cryptocurrency exchange, has observed some interesting patterns between BHP share price and certain cryptocurrencies. These correlations may be attributed to market sentiment and investor behavior, but further research is needed to establish a definitive relationship.
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