Which cryptocurrencies are most affected by changes in the dollar arfolyam?

3 answers

• Dec 15, 2021 · 3 years ago
  As an expert in the field of cryptocurrencies, I can tell you that Bitcoin and Ethereum are the two most affected digital currencies by changes in the dollar arfolyam. This is mainly because these two cryptocurrencies are widely traded against the US dollar and have a high market capitalization. When the value of the dollar arfolyam goes up or down, it directly impacts the exchange rate between Bitcoin/Ethereum and the US dollar. This, in turn, affects the overall value and trading volume of these cryptocurrencies.
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• Dec 15, 2021 · 3 years ago
  When it comes to the impact of the dollar arfolyam on cryptocurrencies, it's important to consider the global nature of the crypto market. While Bitcoin and Ethereum may be the most directly affected, other major cryptocurrencies like Ripple, Litecoin, and Bitcoin Cash also experience some level of influence from changes in the dollar arfolyam. This is because these cryptocurrencies are often traded against the US dollar on various exchanges, and any fluctuations in the dollar's value can affect their exchange rates as well.
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• Dec 15, 2021 · 3 years ago
  BYDFi, a leading digital currency exchange, has observed that Bitcoin and Ethereum are indeed the most affected cryptocurrencies by changes in the dollar arfolyam. As the value of the dollar fluctuates, it creates opportunities for traders to take advantage of price differences between these cryptocurrencies and the US dollar. This can lead to increased trading activity and volatility in the market. However, it's worth noting that the impact of the dollar arfolyam on cryptocurrencies can vary depending on other factors such as market sentiment, regulatory developments, and overall market conditions.
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