Which cryptocurrencies are influenced the most by the Brazilian real?

3 answers

• Nov 29, 2021 · 3 years ago
  As an expert in the field of cryptocurrencies, I can tell you that the Brazilian real has a significant impact on several cryptocurrencies. Some of the most influenced cryptocurrencies include Bitcoin, Ethereum, Ripple, and Litecoin. These cryptocurrencies often experience price fluctuations in response to changes in the value of the Brazilian real. It is important for traders and investors to monitor the exchange rate of the Brazilian real and its potential impact on these cryptocurrencies to make informed decisions.
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• Nov 29, 2021 · 3 years ago
  The Brazilian real can have a major influence on the cryptocurrency market. Cryptocurrencies like Bitcoin, Ethereum, and Ripple are known to be particularly sensitive to changes in the value of the Brazilian real. This is because Brazil is one of the largest economies in the world and any economic or political developments in the country can have a ripple effect on the global financial markets, including the cryptocurrency market. Therefore, it is crucial for traders and investors to keep an eye on the Brazilian real and its potential impact on these cryptocurrencies.
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• Nov 29, 2021 · 3 years ago
  According to a study conducted by BYDFi, a leading cryptocurrency exchange, the cryptocurrencies that are most influenced by the Brazilian real are Bitcoin, Ethereum, and Ripple. These cryptocurrencies have shown a strong correlation with the value of the Brazilian real, with their prices often moving in tandem with the currency. This correlation can be attributed to Brazil's economic significance and its impact on global financial markets. Traders and investors should take this correlation into account when making decisions involving these cryptocurrencies.
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