Which cryptocurrencies are most affected by forex news related to GBP?

3 answers

• Dec 17, 2021 · 3 years ago
  Cryptocurrencies such as Bitcoin (BTC), Ethereum (ETH), and Ripple (XRP) are among the most affected by forex news related to GBP. These cryptocurrencies have a high trading volume and are widely recognized, making them more susceptible to market sentiment and external factors like forex news. Additionally, their liquidity and global reach make them more responsive to changes in the forex market. Therefore, any significant news related to GBP can have a substantial impact on their prices and trading volume.
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• Dec 17, 2021 · 3 years ago
  When it comes to forex news related to GBP, cryptocurrencies like Bitcoin (BTC), Ethereum (ETH), and Ripple (XRP) are the ones that tend to react the most. These cryptocurrencies have established themselves as the leaders in the market and are often used as a benchmark for other digital assets. As a result, any news related to GBP, whether it's political, economic, or regulatory, can trigger a ripple effect across the entire cryptocurrency market. Traders and investors closely monitor these developments to make informed decisions and capitalize on potential opportunities.
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• Dec 17, 2021 · 3 years ago
  Based on our analysis at BYDFi, we have found that cryptocurrencies with a strong presence in the UK market, such as Bitcoin (BTC), Ethereum (ETH), and Litecoin (LTC), are the most affected by forex news related to GBP. This is primarily due to the close relationship between the UK economy and the value of GBP. Any news that impacts the UK economy, such as Brexit updates or changes in monetary policy, can have a significant influence on these cryptocurrencies. Traders should stay updated with the latest forex news and monitor the GBP-related developments to make informed trading decisions.
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