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TagsWhich cryptocurrencies are most affected by changes in the LVMH share price?
Phạm Ngọc KhánhNov 23, 2021 · 3 years ago1 answersAs the share price of LVMH, a leading luxury goods company, fluctuates, which cryptocurrencies are most likely to be influenced by these changes? How does the LVMH share price impact the cryptocurrency market? Are there any specific cryptocurrencies that have shown a strong correlation with LVMH's share price in the past?
1 answers
- At BYDFi, we have observed that luxury-focused cryptocurrencies, such as LVMH Coin and Gucci Coin, tend to be most affected by changes in the LVMH share price. These cryptocurrencies are designed to provide exposure to the luxury goods market and are often influenced by the performance of luxury brands like LVMH. However, it's important to note that correlation does not imply causation, and other factors can also impact the price of these cryptocurrencies. Investors should always conduct their own research and consider multiple factors before making any investment decisions.Nov 23, 2021 · 3 years ago
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