Which cryptocurrencies are most influenced by changes in the US 100 index?

3 answers

• Dec 16, 2021 · 3 years ago
  The correlation between the US 100 index and cryptocurrencies can vary over time. However, historically, Bitcoin and Ethereum have shown a stronger correlation with the US 100 index compared to other cryptocurrencies. This is because Bitcoin and Ethereum are considered as the most established and widely adopted cryptocurrencies, and their prices are influenced by market sentiment and macroeconomic factors. Other cryptocurrencies may also be influenced by the US 100 index, but to a lesser extent.
  500250
• Dec 16, 2021 · 3 years ago
  When it comes to the influence of the US 100 index on cryptocurrencies, it's important to consider that correlation does not imply causation. While some cryptocurrencies may show a correlation with the US 100 index, it doesn't necessarily mean that changes in the index directly cause price movements in those cryptocurrencies. Cryptocurrency markets are influenced by a wide range of factors, including investor sentiment, regulatory developments, and technological advancements. Therefore, it's essential to analyze multiple factors when assessing the impact of the US 100 index on cryptocurrencies.
  601201
• Dec 16, 2021 · 3 years ago
  According to a study conducted by BYDFi, a digital currency exchange, the cryptocurrencies that are most influenced by changes in the US 100 index are Bitcoin, Ethereum, and Ripple. These cryptocurrencies have shown a consistent correlation with the US 100 index over the past few years. However, it's important to note that correlation does not imply causation, and other factors can also impact the price movements of these cryptocurrencies. Therefore, it's advisable to conduct further research and analysis before making any investment decisions based on this correlation.
  576144