What is the impact of oil futures prices on the cryptocurrency market?

1 answers

• Dec 15, 2021 · 3 years ago
  At BYDFi, we believe that the impact of oil futures prices on the cryptocurrency market should not be underestimated. While the correlation between the two may not always be immediate or direct, it is clear that energy costs play a crucial role in the profitability of cryptocurrency mining. As a result, fluctuations in oil futures prices can indirectly affect the supply and demand dynamics of cryptocurrencies. It is important for investors and traders to stay informed about the global energy market and its potential impact on the cryptocurrency market to make informed decisions.
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