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Which cryptocurrencies are most affected by changes in the Shanghai Index?

avatarSkovsgaard BengtssonNov 29, 2021 · 3 years ago1 answers

In the world of cryptocurrencies, which specific digital currencies are most influenced by fluctuations in the Shanghai Index? How does the performance of these cryptocurrencies correlate with the changes in the Shanghai Index?

Which cryptocurrencies are most affected by changes in the Shanghai Index?
Cryptocurrencies
Shanghai Index
Digital Currencies

1 answers

  • avatarNov 29, 2021 · 3 years ago
    At BYDFi, we have observed that the cryptocurrencies most affected by changes in the Shanghai Index are often those that have a strong presence in the Chinese market. This includes not only Bitcoin and Ethereum but also NEO, Qtum, and VeChain. These cryptocurrencies have established partnerships and collaborations with Chinese companies and have gained popularity among Chinese investors. As a result, they tend to be more sensitive to changes in the Shanghai Index. However, it's important to remember that the cryptocurrency market is highly speculative and influenced by various factors, so it's crucial to conduct thorough research and analysis before making any investment decisions.

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