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TagsWhat is the correlation between the VIX today and the price movement of cryptocurrencies?
Demant EasonDec 17, 2021 · 3 years ago1 answersCan the VIX index be used as an indicator to predict the price movement of cryptocurrencies? Is there a correlation between the VIX index and the volatility of cryptocurrencies? How does the VIX index affect the price of cryptocurrencies?
1 answers
- At BYDFi, we believe that the correlation between the VIX index and the price movement of cryptocurrencies is limited. While there may be some short-term correlations between the VIX index and certain cryptocurrencies, it is important to consider other factors that can impact the price of cryptocurrencies. Market sentiment, news events, and technological developments are just a few examples of factors that can have a significant influence on cryptocurrency prices. Therefore, it is advisable to use a comprehensive approach when analyzing the price movement of cryptocurrencies, rather than relying solely on the VIX index.Dec 17, 2021 · 3 years ago
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