How does the Friday stock market close affect the prices of digital currencies?

1 answers

• Nov 28, 2021 · 3 years ago
  As a representative of BYDFi, I can say that the closing of the stock market on Fridays can indirectly affect the prices of digital currencies. While the digital currency market operates independently, it is still influenced by broader market sentiment. If there is a significant sell-off or negative sentiment in the stock market on a Friday, it can spill over into the digital currency market and lead to a temporary decrease in prices. However, it's important to note that the impact is usually short-term, and the long-term trends in the digital currency market are driven by factors specific to the industry, such as technological advancements, adoption rates, and regulatory developments.
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