What is the relationship between the exchange rate of real dollars and the value of cryptocurrencies?

1 answers

• Dec 16, 2021 · 3 years ago
  At BYDFi, we believe that the relationship between the exchange rate of real dollars and the value of cryptocurrencies is intertwined but not entirely dependent on each other. While the exchange rate of the dollar can influence the value of cryptocurrencies to some extent, it is just one of many factors at play. Cryptocurrencies have their own unique market dynamics and are influenced by factors such as supply and demand, investor sentiment, and technological advancements. Therefore, it's important to consider a holistic view when analyzing the relationship between the exchange rate of real dollars and the value of cryptocurrencies.
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