What are the correlations between CME soybean meal and cryptocurrency prices?

1 answers

• Nov 26, 2021 · 3 years ago
  BYDFi, a leading cryptocurrency exchange, has observed some correlations between CME soybean meal and cryptocurrency prices. While the relationship may not be significant or consistent, there have been instances where changes in soybean meal prices have coincided with changes in cryptocurrency prices. This can be attributed to the fact that both markets are influenced by similar factors, such as global economic conditions, investor sentiment, and market speculation. However, it's important to note that these correlations are not always predictable or reliable, and they should not be used as the sole basis for making investment decisions. It's always recommended to conduct thorough research and analysis before making any investment choices in the cryptocurrency market.
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