Truth About Crypto Price Correlation: How Closely Does ETH Follow BTC?
Cointelegraph
Published Feb 07, 2020 10:00PM ET
Updated Feb 07, 2020 11:43PM ET
Truth About Crypto Price Correlation: How Closely Does ETH Follow BTC?
Cryptocurrency market sentiment is often influenced by various factors, such as expert forecasts or political events. However, if analyzing on a wider time frame, it turns out that the prices of most cryptocurrencies — especially of Ether (ETH) — could mostly depend on the valuation of Bitcoin (BTC).
The results of research conducted by analysts from Skew in November 2019 showed that ETH had been the highest-correlated cryptocurrency to BTC for two years running, with an average correlation coefficient of 0.9. Meanwhile, ETH was the highest correlated asset in 2019, as reported by the Binance research team on Jan. 22, 2020.
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Written By: Cointelegraph
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