Lucas Barreto CaramuruDec 16, 2021 · 3 years ago3 answersHow does the rand exchange rate to dollar affect the value of cryptocurrencies?
Can you explain how the exchange rate between the South African rand and the US dollar impacts the value of cryptocurrencies? I'm curious to know if there is a direct correlation between these two factors and how they influence each other. Does a stronger rand lead to higher cryptocurrency prices, or is it the other way around? Are there any specific cryptocurrencies that are more affected by this exchange rate than others? I'd appreciate a detailed explanation.
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