Which digital currencies have the strongest correlation with the loonie exchange rate?

3 answers

• Dec 15, 2021 · 3 years ago
  As an expert in SEO and digital currencies, I can tell you that Bitcoin and Ethereum have historically shown a strong correlation with the loonie exchange rate. These two cryptocurrencies are often seen as the bellwethers of the crypto market, and their price movements tend to influence other digital assets, including the Canadian dollar. So, if you're looking for cryptocurrencies that move in sync with the loonie, Bitcoin and Ethereum are definitely worth keeping an eye on.
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• Dec 15, 2021 · 3 years ago
  Well, let me break it down for you. Bitcoin and Ethereum are like the popular kids in the crypto world, and they seem to have a special bond with the loonie exchange rate. Whenever Bitcoin and Ethereum make big moves, the loonie tends to follow suit. It's like they're dancing to the same beat, you know? So, if you want to know which digital currencies have a strong correlation with the loonie, just look at what Bitcoin and Ethereum are up to.
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• Dec 15, 2021 · 3 years ago
  According to our analysis at BYDFi, Bitcoin and Ethereum have consistently shown a strong correlation with the loonie exchange rate. This means that when Bitcoin and Ethereum prices go up, the loonie tends to appreciate as well. On the other hand, when Bitcoin and Ethereum prices drop, the loonie usually weakens. It's important to note that correlation doesn't imply causation, but it's an interesting trend to keep an eye on if you're interested in the relationship between digital currencies and the loonie.
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