Column
Correlation Between Ethereum And Bitcoin Is Unpredictable, Even As The Two Leading Cryptocurrencies
Summary: Recent charts show that there is no consistent correlation between the performance of Bitcoin and Ethereum, as reported by ambcrypto. As the two most prominent cryptocurrencies in the community ETH and BTC are often compared, though the value of ETH is far behind that of BTC. However, technology-wise the two currencies are on par with ...
Recent charts show that there is no consistent correlation between the performance of Bitcoin and Ethereum, as reported by ambcrypto.
As the two most prominent cryptocurrencies in the community ETH and BTC are often compared, though the value of ETH is far behind that of BTC. However, technology-wise the two currencies are on par with one another.
Bitcoin's one-month correlation recently dropped from 93 percent to 58 percent over a weeks-long period. Ethereum's value relative to Bitcoin also hit a yearly high of 3.3 percent, data from Skew shows.
The data over recent years demonstrates that it is unlikely one could predict future price movements of either currency by looking at past patterns relative to each other given that the correlation of ETH-BTC does not follow any sort of regular trend.
By Emily Mason
Tags: Bitcoin,BTC,BTC-ETH Correlation,ETH,Etheruem
Link: Correlation Between Ethereum And Bitcoin Is Unpredictable, Even As The Two Leading Cryptocurrencies [Copy]
