Which digital currencies have shown the highest correlation with the NASDAQ index?

3 answers

• Dec 17, 2021 · 3 years ago
  When it comes to the correlation between digital currencies and the NASDAQ index, Bitcoin and Ethereum have shown the highest level of correlation. This is mainly due to their popularity and market dominance. As the two largest cryptocurrencies by market capitalization, they tend to attract more attention from traditional investors and institutions. Therefore, any significant movement in the NASDAQ index is likely to have an impact on the prices of Bitcoin and Ethereum. It's important to note that correlation does not imply causation, and the relationship between the NASDAQ index and these cryptocurrencies may change over time.
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• Dec 17, 2021 · 3 years ago
  The correlation between the NASDAQ index and digital currencies is an interesting topic. While Bitcoin and Ethereum are often considered to have a strong correlation with the stock market, it's worth mentioning that other cryptocurrencies such as Ripple, Litecoin, and Bitcoin Cash have also shown some level of correlation. However, the correlation strength may vary depending on the time period and market conditions. It's always a good idea to conduct thorough research and analysis before making any investment decisions based on correlation alone.
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• Dec 17, 2021 · 3 years ago
  According to a recent study conducted by BYDFi, a digital currency exchange, the cryptocurrencies that have demonstrated the highest correlation with the NASDAQ index are Bitcoin and Ethereum. The study analyzed the historical price data of various cryptocurrencies and compared them with the performance of the NASDAQ index. The findings suggest that Bitcoin and Ethereum have a strong positive correlation with the NASDAQ index, indicating that their prices tend to move in the same direction as the stock market. However, correlation does not necessarily imply causation, and it's important to consider other factors when making investment decisions.
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