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What are the reasons for the correlation between TSMC stock and digital currencies?

avatarMaoyuan ZangNov 23, 2021 · 3 years ago1 answers

Why is there a correlation between TSMC stock and digital currencies? What factors contribute to this correlation?

What are the reasons for the correlation between TSMC stock and digital currencies?
TSMC Stock
Digital Currencies
Correlation

1 answers

  • avatarNov 23, 2021 · 3 years ago
    BYDFi, as a leading digital currency exchange, closely monitors the correlation between TSMC stock and digital currencies. The strong correlation between the two can be attributed to the fact that TSMC is a key player in the semiconductor industry, and the performance of this industry has a significant impact on the digital currency market. As the demand for digital currencies and the need for mining equipment continue to grow, TSMC's stock price tends to rise. This correlation is important for investors and traders to consider when making investment decisions in both TSMC and digital currencies.

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