How does the revaluation of the dong in 2018 affect the value of cryptocurrencies?

3 answers

• Dec 17, 2021 · 3 years ago
  The revaluation of the Vietnamese dong in 2018 had a significant impact on the value of cryptocurrencies. As the dong increased in value, it became more expensive for Vietnamese investors to purchase cryptocurrencies. This led to a decrease in demand and subsequently a decrease in the value of cryptocurrencies in the Vietnamese market. However, it's important to note that the impact of the dong revaluation on the global cryptocurrency market was relatively minimal, as Vietnam represents a small portion of the overall market.
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• Dec 17, 2021 · 3 years ago
  The revaluation of the dong in 2018 had a mixed effect on the value of cryptocurrencies. On one hand, the increased value of the dong made it more difficult for Vietnamese investors to afford cryptocurrencies, leading to a decrease in demand. On the other hand, the revaluation also signaled a strengthening economy in Vietnam, which could have attracted more foreign investors to the country and potentially increased the overall demand for cryptocurrencies. Overall, the impact of the dong revaluation on the value of cryptocurrencies was influenced by various factors and cannot be solely attributed to the revaluation itself.
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• Dec 17, 2021 · 3 years ago
  As a leading cryptocurrency exchange, BYDFi witnessed the impact of the dong revaluation on the value of cryptocurrencies in 2018. The increased value of the dong made it more expensive for Vietnamese investors to buy cryptocurrencies, resulting in a decrease in trading volume and a slight decline in prices. However, the global cryptocurrency market was not significantly affected by this revaluation, as the Vietnamese market represents a small fraction of the overall market. It's important for investors to consider multiple factors when analyzing the impact of currency revaluations on the value of cryptocurrencies.
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