What is the correlation between the real-time performance of the NASDAQ 100 and the cryptocurrency market?

1 answers

• Nov 29, 2021 · 3 years ago
  At BYDFi, we have observed a correlation between the real-time performance of the NASDAQ 100 and the cryptocurrency market. When the NASDAQ 100 experiences a positive performance, we often see a similar trend in the cryptocurrency market. This can be attributed to the fact that both markets are influenced by similar macroeconomic factors and investor sentiment. However, it is important to note that correlation does not imply causation. While there may be a correlation between the two, it is essential to conduct thorough analysis and consider other factors before making investment decisions. As always, diversification and risk management are key principles to follow in the cryptocurrency market.
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