Will the strengthening of the ruble affect the crypto market?

The dollar fell below ₽80 for the first time since the beginning of the month. According to the Moscow Exchange, at 14:00, it dropped to ₽79.26. The last time the US currency traded at this level was at the beginning of the month, on April 5, writes RBC Crypto.

The bitcoin exchange rate against the US dollar increased by 0.9% per day – from $28.9 thousand to $29.2 thousand (the asset rose by $300). The rate of the first cryptocurrency against the ruble during the same time fell by 0.2% – from 2.363 million rubles. up to RUB 2.358 million (the asset fell by 5 thousand rubles).

The higher the dollar rate against the ruble, the more profitable the situation for crypto traders, says Cryptorg CEO Andrey Podolyan. At the same time, he believes that the range from 74 rubles will be most beneficial to the majority. up to 80 rubles per dollar.

“In this range, both those who earn in dollars and those who earn in rubles will feel comfortable. And in general, with this exchange rate, the Russian economy feels most stable, so it would be logical to return to the range of 74-80 rubles. and stay there as long as possible,” Podolyan believes.

Speaking about how the demand for cryptocurrency is changing against the backdrop of changes in the ruble exchange rate, Nikita Zuborev, senior analyst at the Bestchange.ru aggregator, noted that people often act counterintuitively. According to him, today the interest of investors follows the trends, and following the strengthening of the ruble, the demand for buying bitcoin has increased, although by tenths of a percent from the previous day.

At the same time, the analyst noted that more often than not, a surge of interest in buying cryptocurrencies for rubles is observed against the backdrop of a depreciation of the national currency, and not vice versa.

But in general, such insignificant fluctuations in the global sense do not affect the behavior of users, they are guided by the general mood of the market, but it has not changed, says Zuborev.

Speaking about the interest in selling or buying foreign fiat currencies, the analyst noted that there are no significant changes in these statistics either – the dollar that has fallen in price by a couple of rubles has not become more attractive to investors.

Source: CryptoNewsHerald.com

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