Community post
Bitcoin and Altcoin correlations
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.
https://steemitimages.com/DQmYKZ2Vizj1tQK4BmF9v23BfFGd1TEGK7odF9t8dAoE3bQ/5d5f2f3ec47aebb292c122c7715865bd.png
Note:
- The correlation closer to 1 mean that prices behave similar
- The correlation closer to -1 means an inverse relationship, i.e prices move in different directions.
- The correlation close to 0, means movements outweigh each other.
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Original link to an hourly updated correlation page is shown here http://correlation.cryptoalerts.verhoelen.de/
Replies (15)
nice post
Thanks @rl90, hope its worthy of an upvote ;)
there ya go
haha thanks mate :D You've got my follow!
Don't forget get the free stellar tokens that every bitcoin holder (as of 26th june) has the right to claim !
Great work , good job ! Upvote
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?
Much appreciated @journeyoflife :)
I guess it should ! on the other hand tho, this has been scheduled since day one, so that the market should be aware of it ! Anyway, it is tokens for free, I mean, bluntly free, you just claim it and receive it. Worst case scenario you change it to USD now (1 XLM = 3c USD) and then you're not incurring in lumens risk any longer ! 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!
great info and i reckon you know a lot about crypto - i am now following
Thankyou @daydreams4rock, i'll try to post a lot more about cryptos!
Nice work. Thanks!
Is there a time delay component to the correlation? Does Litecoin tend to rise 7 days after Bitcoin for example? Do some coins follow others?
This is really interesting. Is there any chance you have updated this?