Altcoin vs bitcoin correlation

As an investor, it’s important to realize that cryptocurrencies, while different in many ways are still very dependent on each other. You should consider whether you can afford to take the high risk of losing your money. Altcoins with a correlation of 0 are uncorrelated with BTC in that the price movement is independent of the direction of Bitcoin. You can use this to help you make fast decisions about whether or not to buy or sell alternate currencies if the price of BTC is rising or falling.

Bitcoin and Altcoins price correlation

The picture below depicts the correlations between BTC and Altcoins which was updated today. This is useful for those investors who want to see the relationship between all cryptocurrencies, and corrrelation they perform relative to the movement of the market. Downvoting a post can decrease pending rewards and make it less visible. Common reasons:. Don’t forget get the free stellar tokens that every bitcoin holder as of 26th june has the right to claim! I heard something about this news pedrombraz! But I was wondering with altcoin vs bitcoin correlation increase in stellar token, wont this decrease the value of the original coins in circulation?

Correlations between price and different factors

Wondering if the Altcoin prices depend on Bitcoin? They really do! This correlation analysis will help you to know the connection and influence Bitcoin has over other cryptocurrencies. Feel free to use this information for better trading decisions. As an investor, it’s important to realize that cryptocurrencies, while different in many ways are still very dependent on each other. The market is so close knit, that when one currency starts to either go up or down, you can expect other currencies to follow suit. This can of course be attributed to more buyer confidence in the entire market, but it’s also because many alts follow the path of Bitcoin very closely.

How does it work?

The picture below depicts the correlations between BTC and Altcoins which was updated today. This is useful for those investors who want to see the relationship between all cryptocurrencies, and how they perform relative to the movement of the market. Downvoting a post can decrease pending rewards and make it less visible. Common reasons:. Don’t forget get the free stellar tokens that every bitcoin holder as of 26th june has the right to claim! I heard something about this news pedrombraz!

But I was wondering with the increase in stellar token, wont this decrease the value of the original coins in circulation? I guess it should! Anyway, it is tokens for free, I mean, bluntly free, you just claim it and receive it.

You know what I mean? Yeah makes sense, maybe the fact that it will decrease the value of the original coins is why stellar is giving out the free tokens to existing hodlers anyways.

Thanks for the tip, i’ll look into it some more! Thankyou daydreams4rocki’ll try to post a lot more about cryptos! Is there a time delay component to the correlation? Does Litecoin tend to rise 7 days after Bitcoin altcoin vs bitcoin correlation example? Do some coins follow others? Privacy Policy Terms of Service. Bitcoin and Altcoin correlations. The correlation close to 0, means movements outweigh each. I found it very interesting that Ethereum and Bitcoin actually have an inverse relationship.

Common reasons: Disagreement on rewards Fraud or plagiarism Hate speech or trolling Miscategorized content or spam. Authors get paid when people like you upvote their post. Sign up. Thanks rl90hope its worthy of an upvote.

Great workgood altcoin vs bitcoin correlation Much appreciated journeyoflife :. Nice work. This is really interesting.

Is there any chance you have updated this?

How does it work?

This information is a collection of trading data which is harvested over different periods of time, and it is used for many things. The volatile price action in the crypto markets over the past year and a half has proved to investors that despite each major altcoin having mostly unique features and use-cases, their prices are still extremely influenced by the overall market price action, and especially that of Bitcoin. Go. Bitcoin is the first, oldest, priciest, and most-popular cryptocurrency in the market. In addition, the dominance of Bitcoin has increased from The fact that eToro provides an immersive and engaging UI and UX for cryptocurrency traders suggests that retail Wall Street traders might start adding crypto assets to their portfolios to deepen the mass-market adoption of cryptocurrencies. Notify me of follow-up comments by email. Next 2. For instance, Litecoin LTC is often regarded as the silver equivalent of Bitcoin because of the similarities in their code base. With this in mind, it does, in fact, appear that the Bitcoin price crash — which sent virtually all altcoin vs bitcoin correlation spiraling downwards — has led to a lower correlation amongst cryptocurrencies — especially in terms of monetary returns — which could mean that future price cycles including both bull runs and bear crashes will not cause the entire markets to move as one, with individual altcoins moving on their own accord. Chances are, if you pull the chart for your favorite alternative currency and you compare it to BTC, then you will likely see some interesting data. This software is mostly useful for traders and not really for long term investors who would be concerned with other metrics like news, tech, ect. Bitcoin is uncorrelated with traditional assets classes such as stocks, gold, oil, or real estate.