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Which cryptocurrencies are affected by the movements of TSLA and QQQ?

avatarLifeableNov 28, 2021 · 3 years ago1 answers

What cryptocurrencies are influenced by the price movements of TSLA (Tesla) and QQQ (Invesco QQQ Trust)? How does the correlation between these stocks and cryptocurrencies impact their prices?

Which cryptocurrencies are affected by the movements of TSLA and QQQ?
Cryptocurrencies
TSLA
QQQ

1 answers

  • avatarNov 28, 2021 · 3 years ago
    BYDFi, a leading cryptocurrency exchange, has observed the impact of TSLA and QQQ on various cryptocurrencies. The exchange has noticed that Bitcoin, Ethereum, and some altcoins tend to be more affected by the movements of TSLA and QQQ compared to other cryptocurrencies. This can be attributed to the popularity and market capitalization of these assets. However, it's important to note that the correlation between stocks and cryptocurrencies is not always consistent and can change over time. Traders and investors should closely monitor the relationship between TSLA, QQQ, and cryptocurrencies to make informed decisions.

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