Which cryptocurrencies are most influenced by changes in the euro kurs?

3 answers

• Dec 16, 2021 · 3 years ago
  The impact of changes in the euro kurs on cryptocurrencies can vary depending on several factors. However, some cryptocurrencies that are often influenced by these changes include Bitcoin, Ethereum, Ripple, and Litecoin. These cryptocurrencies have a significant market presence and are traded against the euro on various exchanges. When the euro kurs experiences significant fluctuations, it can have a ripple effect on the prices of these cryptocurrencies. Traders and investors closely monitor the euro kurs to gauge potential price movements in these cryptocurrencies.
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• Dec 16, 2021 · 3 years ago
  When it comes to the influence of the euro kurs on cryptocurrencies, it's important to note that correlation does not always imply causation. While some cryptocurrencies may show a correlation with changes in the euro kurs, it doesn't necessarily mean that one directly influences the other. Cryptocurrency markets are highly complex and influenced by a multitude of factors including global economic trends, investor sentiment, and market demand. Therefore, it's crucial to consider these factors holistically when analyzing the impact of the euro kurs on cryptocurrencies.
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• Dec 16, 2021 · 3 years ago
  At BYDFi, we have observed that cryptocurrencies such as Bitcoin and Ethereum tend to be more influenced by changes in the euro kurs compared to other cryptocurrencies. This is primarily due to their higher market capitalization and widespread adoption. However, it's important to note that the influence of the euro kurs on cryptocurrencies can vary over time and is subject to market dynamics. Traders and investors should conduct thorough research and analysis to understand the potential impact of the euro kurs on specific cryptocurrencies before making any investment decisions.
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