Which cryptocurrencies have the highest correlation with the USD to ZAR chart?

3 answers

• Dec 14, 2021 · 3 years ago
  Sure! When it comes to cryptocurrencies that have a high correlation with the USD to ZAR chart, Bitcoin (BTC) and Ethereum (ETH) are two of the most notable ones. These two cryptocurrencies often exhibit similar price movements to the USD to ZAR exchange rate due to their popularity and market dominance. However, it's important to note that correlation doesn't necessarily imply causation, and the relationship between cryptocurrencies and traditional currency exchange rates can be influenced by various factors.
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• Dec 14, 2021 · 3 years ago
  Well, if you're looking for cryptocurrencies that closely follow the USD to ZAR chart, you can't ignore Ripple (XRP) and Litecoin (LTC). These digital assets have shown a tendency to move in sync with the exchange rate between the US dollar and the South African rand. It's worth mentioning that correlation can change over time, so it's always a good idea to keep an eye on the market and conduct thorough analysis before making any investment decisions.
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• Dec 14, 2021 · 3 years ago
  According to our analysis at BYDFi, the cryptocurrencies that have the highest correlation with the USD to ZAR chart are Bitcoin (BTC), Ethereum (ETH), Ripple (XRP), and Litecoin (LTC). These digital currencies have demonstrated a strong relationship with the exchange rate between the US dollar and the South African rand. However, it's important to remember that correlation doesn't guarantee future price movements, and it's always advisable to conduct your own research and consult with a financial advisor before making any investment decisions.
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