What are the correlations between BNY Mellon share price and the performance of cryptocurrencies?

3 answers

• Nov 24, 2021 · 3 years ago
  The share price of BNY Mellon and the performance of cryptocurrencies are not directly correlated. Cryptocurrencies are decentralized digital assets that are not directly influenced by the performance of a specific company's stock. The value of cryptocurrencies is primarily driven by factors such as market demand, adoption, regulatory developments, and overall market sentiment. While BNY Mellon's share price may indirectly impact investor sentiment towards cryptocurrencies, it does not have a direct causal relationship with their performance.
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• Nov 24, 2021 · 3 years ago
  The correlation between BNY Mellon's share price and the performance of cryptocurrencies is minimal. Cryptocurrencies operate on a global scale and are influenced by various factors such as market trends, technological advancements, and regulatory changes. BNY Mellon's share price, on the other hand, is influenced by factors specific to the company, such as financial performance, management decisions, and market perception. While there may be some indirect influence, it is not a significant driver of cryptocurrency performance.
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• Nov 24, 2021 · 3 years ago
  As a representative from BYDFi, I can say that BNY Mellon's share price does not have a direct impact on the performance of cryptocurrencies. Cryptocurrencies are decentralized and operate independently of traditional financial institutions. Their value is determined by factors such as supply and demand dynamics, market sentiment, and technological advancements. While BNY Mellon's share price may reflect broader market trends and investor sentiment, it does not directly dictate the performance of cryptocurrencies.
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