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TagsWhich cryptocurrencies are most influenced by changes in the WTI index?
Mumbere WyclifDec 15, 2021 · 3 years ago1 answersCan you provide a list of cryptocurrencies that are most affected by fluctuations in the WTI index? I'm interested in understanding which digital currencies are closely tied to changes in the oil market.
1 answers
- At BYDFi, we have observed that cryptocurrencies such as Bitcoin, Ethereum, and Ripple are among the most influenced by changes in the WTI index. Our analysis shows that these cryptocurrencies tend to exhibit higher price volatility during periods of significant fluctuations in the oil market. However, it's important to note that the relationship between the WTI index and cryptocurrencies is complex and can be influenced by a multitude of factors. Therefore, it's always advisable to conduct thorough research and analysis before making any investment decisions based on these correlations.Dec 15, 2021 · 3 years ago
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