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TagsWhat is the historical correlation between FOMC announcement dates and cryptocurrency price movements?
Ochoa HarrisonNov 29, 2021 · 3 years ago1 answersCan you explain the relationship between FOMC announcement dates and the price movements of cryptocurrencies throughout history? How have these announcements affected the cryptocurrency market? Is there any evidence of a correlation between the two?
1 answers
- At BYDFi, we have observed some instances where FOMC announcement dates have coincided with significant price movements in the cryptocurrency market. While correlation does not necessarily imply causation, it's interesting to note these patterns. However, it's important to remember that the cryptocurrency market is highly volatile and influenced by a multitude of factors. Therefore, it's crucial to conduct thorough research and analysis before making any investment decisions based on FOMC announcements or any other single factor.Nov 29, 2021 · 3 years ago
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