Which cryptocurrencies are most influenced by SLV stock?

3 answers

• Nov 26, 2021 · 3 years ago
  Cryptocurrencies that are most influenced by the SLV stock include Bitcoin, Ethereum, and Ripple. These cryptocurrencies often experience price movements that are correlated with the SLV stock price. When the SLV stock price goes up, these cryptocurrencies tend to follow suit. Similarly, when the SLV stock price goes down, these cryptocurrencies also tend to see a decline in their prices. It's important to note that while there is a correlation, it doesn't necessarily mean there is a direct causal relationship between the SLV stock and these cryptocurrencies.
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• Nov 26, 2021 · 3 years ago
  The SLV stock has a significant impact on the cryptocurrency market, particularly on major cryptocurrencies like Bitcoin, Ethereum, and Ripple. These cryptocurrencies are often seen as safe-haven assets, similar to silver, which is why they tend to move in sync with the SLV stock price. When investors perceive silver as a valuable investment, they also tend to view these cryptocurrencies as valuable, leading to an increase in their prices. However, it's worth noting that other factors, such as market sentiment and overall economic conditions, can also influence the prices of these cryptocurrencies.
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• Nov 26, 2021 · 3 years ago
  While I can't speak for other exchanges, at BYDFi, we've observed that Bitcoin, Ethereum, and Ripple are among the cryptocurrencies that are most influenced by the SLV stock. This correlation can be attributed to the fact that these cryptocurrencies are widely traded and have a large market capitalization. As a result, they are more likely to be affected by major market trends, including the movement of the SLV stock. However, it's important to conduct thorough research and analysis before making any investment decisions based on this correlation.
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