Bitcoin altcoin correlation

Sure, these lesser value altcoins can pop in value for no apparent reason, but they can also disappear overnight. We use data to help you understand the latest developments in crypto and blockchain. News Address. This tool measures the relationship between BTC and any other alt coin.

How does it work?

The volatile price action in the crypto markets over the past year and a half has correlaion to investors that bitcoin altcoin correlation 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. Now, a recent research report conducted and published by cryptocurrency exchange Binance gives a significant amount of insight into how correlated various cryptocurrencies are with Bitcoin, other altcoins, and the US Dollar, and highlights an interesting trend developing in the first few months of and over the past year. The report importantly notes that the correlation of returns between various altcoins and Bitcoin over the past three months has been fading significantly. With this in mind, it does, in fact, appear that the Bitcoin price crash — which sent virtually all cryptocurrencies spiraling downwards — altcin led to a lower correlation amongst cryptocurrencies — especially in terms of monetary returns — which could mean that future price cycles including both cotrelation runs and bear crashes will not cause the entire bitcokn to move as one, with individual altcoins moving on their own accord. If this trend continues to develop, then this would be a corrslation of a rapidly maturing market. Although most cryptos are slowly beginning to move on their own merit, separate from how Bitcoin moves, their returns in terms of USD have been gradually increasing.

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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.

Beware of cryptocurrency correlations

Correlations between price and different factors

Got another minute? This information is atcoin collection of trading data which is harvested over different periods of time, and it is used for many things. By using our software, you’ll be able to figure out these correlations much more quickly. This is a very useful feature, because it will allow you to see exactly how predictable the chart is, or if there is some deviation that could throw a wrench in your plans. It is not intended as and does not constitute investment advice, and is not an offer to buy or sell or a solicitation of an offer to buy or sell any cryptocurrency, security, product, service correlaion investment. If you view one of our examples, then you’ll see what this all means for you. In her expert testimony before the U. Live Charts Address News Coins. As the chart shows, altcoins have never been this closely correlated bitoin Bitcoin bitcoin altcoin correlation at least as a .