Which cryptocurrencies are most affected by the current trend of the dollar?

3 answers

• Dec 17, 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 cryptocurrencies by the current trend of the dollar. These two cryptocurrencies have a high correlation with the value of the dollar, and any fluctuations in the dollar can have a significant impact on their prices. Other cryptocurrencies like Ripple and Litecoin are also influenced by the dollar trend, but to a lesser extent. It's important to keep an eye on the dollar trend when investing in cryptocurrencies to make informed decisions.
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• Dec 17, 2021 · 3 years ago
  Well, it's no secret that Bitcoin is the king of cryptocurrencies, and its price is often influenced by various factors, including the trend of the dollar. When the dollar strengthens, Bitcoin's price tends to decrease, and when the dollar weakens, Bitcoin's price tends to increase. Ethereum, on the other hand, is also affected by the dollar trend, but it has its own unique factors that can influence its price. So, if you're looking for cryptocurrencies that are most affected by the current trend of the dollar, Bitcoin and Ethereum should be at the top of your list.
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• Dec 17, 2021 · 3 years ago
  At BYDFi, we've observed that Bitcoin and Ethereum are indeed the most affected cryptocurrencies by the current trend of the dollar. The value of these cryptocurrencies often moves in the opposite direction to the dollar. When the dollar strengthens, the prices of Bitcoin and Ethereum tend to decrease, and when the dollar weakens, their prices tend to increase. However, it's important to note that the cryptocurrency market is highly volatile, and other factors can also influence the prices of cryptocurrencies. Therefore, it's crucial to conduct thorough research and analysis before making any investment decisions.
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