What is the historical correlation between Nikkei holiday and cryptocurrency prices?

3 answers

• Nov 24, 2021 · 3 years ago
  Well, it's an interesting question. While there is no direct causation between Nikkei holidays and cryptocurrency prices, some researchers have found a historical correlation. It is believed that during Nikkei holidays, when the Japanese market is closed, there might be a decrease in trading volume, which can indirectly impact the prices of cryptocurrencies. However, it's important to note that correlation does not imply causation, and there are various other factors that can influence cryptocurrency prices.
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• Nov 24, 2021 · 3 years ago
  To be honest, there isn't a clear-cut answer to this question. While some traders speculate that the absence of trading activity during Nikkei holidays can lead to price fluctuations in cryptocurrencies, others argue that it's just a coincidence. It's worth mentioning that the cryptocurrency market is highly volatile and influenced by numerous factors, such as global news, regulations, and investor sentiment. So, it's hard to attribute price movements solely to Nikkei holidays.
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• Nov 24, 2021 · 3 years ago
  As an expert at BYDFi, I can tell you that there is no concrete evidence to support a direct correlation between Nikkei holidays and cryptocurrency prices. While it's true that the Japanese market has a significant impact on the global cryptocurrency market, it would be oversimplifying to attribute price movements solely to Nikkei holidays. It's crucial to consider a wide range of factors, including market sentiment, technological developments, and macroeconomic trends, when analyzing cryptocurrency price movements.
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