[ad_1]
Markets and prices
The downward trend of 2018 has led to an increase in the correlation between the major cryptocurrency markets, with recent research indicating that 10 of the 15 major cryptographic assets by market capitalization show a price correlation of over 64%. Furthermore, five pairs of cryptocurrencies show a correlation greater than 80% for 2018: ADA and XLM, BTC and LTC, XMR and BTC, ETH and LTC and XMR and LTC.
Read also: Texas Updates Regulatory regarding cryptocurrency activities
The research finds a significant correlation between the main cryptographic resources
<img class = "alignright size-medium wp-image-271153″ title=”Research: most of the major cryptographic activities show a close price correlation” src=”https://news.bitcoin.com/wp-content/uploads/2019/01/shutterstock_712597270-300×200.jpg” alt=”Search: Most major cryptographic activities show a close price correlation "width =" 300 "height =" 200 "srcset =" https://news.bitcoin.com/wp-content/uploads/2019/01/shutterstock_712597270 -300×200.jpg 300w, https://news.bitcoin.com/wp-content/uploads/2019/01/shutterstock_712597270-768×512.jpg 768w, https://news.bitcoin.com/wp-content/uploads/2019 / 01 / shutterstock_712597270- 696×464.jpg 696w, https://news.bitcoin.com/wp-content/uploads/2019/01/shutterstock_712597270-630×420.jpg 630w, https://news.bitcoin.com/wp-content / uploads / 2019/01 / shutterstock_712597270.jpg 1000w "sizes =" (maximum width: 300px) 100vw, 300px”/>A new analysis found the prices of bitcoin cash (BCH), bitcoin core (BTC), ethereum (ETH), ripple (XRP), eos (EOS), stellar (XLM), litecoin (LTC), cardan (ADA), iota (MIOTA), and monero (XMR) to be positively correlated, with all the cryptographic resources detected that have a correlation of average price between 64.7% and 74.1% over another.
Five couplings showed a correlation higher than 80% – ADA and XLM with 83.6%, BTC and LTC with 83.5%, XMR and BTC with 82.9%, ETH and LTC with 82.7% and XMR and LTC with 80.6%.
Tron (TRX) included the only cryptocurrency examined to produce an average correlation of less than 50%, with an average correlation of 49.6% compared to other leading markets.
The research also found that Proof of Work cryptocurrencies are generally less correlated with cryptographic resources that use alternative consensus mechanisms.
Price correlation doubles year by year
<img class = "alignright size-medium wp-image-271157″ title=”Research: most of the major cryptographic activities show a close price correlation” src=”https://news.bitcoin.com/wp-content/uploads/2019/01/shutterstock_389966944-300×200.jpg” alt=”Search: Most major cryptographic activities show a close price correlation "width =" 300 "height =" 200 "srcset =" https://news.bitcoin.com/wp-content/uploads/2019/01/shutterstock_389966944 -300×200.jpg 300w, https://news.bitcoin.com/wp-content/uploads/2019/01/shutterstock_389966944-768×512.jpg 768w, https://news.bitcoin.com/wp-content/uploads/2019 / 01 / shutterstock_389966944- 696×464.jpg 696w, https://news.bitcoin.com/wp-content/uploads/2019/01/shutterstock_389966944-630×420.jpg 630w, https://news.bitcoin.com/wp-content / uploads / 2019/01 / shutterstock_389966944.jpg 1000w "sizes =" (maximum width: 300px) 100vw, 300px”/>Compared to the previous year, 2018 saw the correlation between many major cryptocurrencies more than double.
The correlation of average prices of BTC increased by 150% from 29.3% in 2017 to 73% in 2018, while the correlation of ETH increased by 154%, from 29.2% to 74.1%. XRP recorded the largest increase in price correlation, up 220% from the previous year, while XMR recorded the lowest percentage increase in the correlation between the cryptocurrencies examined, with an increase of 105% from 34.6% to 71%. The XLM correlation increased by 114% from 30.4% to 64.9% and the LTC correlation increased by 132% from 30.9% to 71.8%.
2018 also saw the increase in the correlation of volumes between primary cryptocurrencies, year after year, with BTC rising from 34.1% in 2017 to 53.2% in 2018, ETH rising from 31% to 48.9%, XRP increasing from 31.1% to 45.2%, and XMR from 20.3% to 22.8%. The correlation of the volume of XLM increased more doubled from 12.5% in 2017 to 28.4% in 2018, as well as the correlation of the LTC volume, which increased from 15.8% to 37.3%.
Do you expect that 2019 will further increase the correlation between the major cryptocurrency markets? Share your thoughts in the comments section below!
Images courtesy of Shutterstock
On Bitcoin.com there are a lot of free useful services. For example, you saw ours Tools page? You can also look up the exchange rate of a transaction in the past. Or calculate the value of your current holdings. Or create a paper wallet. And more.
[ad_2]Source link
