Activity 9 - Cryptocurrencies
Activity 9 - Cryptocurrencies
INSTRUCTIONS:
Answer the following questions and cite your corresponding source/s.
Source/s: https://www.finsmes.com
6. What are the factors that affect the movement of cryptocurrencies?(3 pts)
Answer:
Factors that are affecting the movement of cryptocurrency are the supply and
demand where the rapid change in the balance of supply and demand causes price ups and
downs. Any leaps on the chart encourage traders to buy or sell. Another factor is the
regulation of the cryptocurrency which can seriously affect the situation in the
cryptocurrency market. Infrastructure news and news in the media can also be one the factor
affecting the movement of cryptocurrencies.
Source/s: https://www.actionforex.com/articles/forex-trading
Source/s: https://www.finextra.com/blogposting