Which cryptocurrencies are most affected by changes in the exchange rate between dollar and baht?

3 answers

• Dec 17, 2021 · 3 years ago
  Cryptocurrencies that are most affected by changes in the exchange rate between the US dollar and the Thai baht include Bitcoin, Ethereum, Ripple, and Litecoin. These popular digital currencies often experience price movements in response to fluctuations in major fiat currencies like the dollar and baht. As the exchange rate between the dollar and baht changes, it can impact the demand and value of these cryptocurrencies in the market. Traders and investors closely monitor these currency pairs to make informed decisions in their trading strategies.
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• Dec 17, 2021 · 3 years ago
  When it comes to the impact of the exchange rate between the US dollar and the Thai baht on cryptocurrencies, Bitcoin takes the lead. Being the largest and most widely recognized cryptocurrency, Bitcoin's price is often influenced by changes in major fiat currencies. Ethereum, the second-largest cryptocurrency, also tends to be affected by fluctuations in the exchange rate. Other cryptocurrencies like Ripple and Litecoin may also experience some level of influence, although to a lesser extent. It's important to note that the relationship between exchange rates and cryptocurrencies can be complex, and various factors can contribute to price movements.
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• Dec 17, 2021 · 3 years ago
  At BYDFi, we've observed that Bitcoin, Ethereum, and Ripple are among the cryptocurrencies most impacted by changes in the exchange rate between the US dollar and the Thai baht. These digital assets are highly traded and have a significant market capitalization, making them more susceptible to fluctuations in major fiat currencies. Traders and investors who are interested in these cryptocurrencies should closely monitor the exchange rate between the dollar and baht, as it can have a direct impact on their value. It's always advisable to stay informed about the latest market trends and news to make informed decisions in the cryptocurrency market.
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