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Truth About Crypto Price Correlation: How Closely Does ETH Follow BTC?
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Is it worth relying on correlation when buying cryptocurrencies? And why might ETH not be as correlated to BTC as is commonly believed?
” Van de Poppe shared the same point of view:
“Correlation is important in this market, however, the significance of correlation is hard to test in such a way that proving correlations is almost impossible. There’s been tests of seeking correlations between equity markets and cryptomarkets, but no correlation was found for several reasons, while the charts imply something else. Same goes for altcoin / Bitcoin cycles.”