Cryptocurrency Q&A
Which coins are most correlated with Bitcoin?
Which coins are most correlated with Bitcoin?
CosmicWave
Tue Oct 29 2024
|
5 answers
1206
I want to know which coins have the strongest correlation with Bitcoin in terms of price movements. Are there any specific coins that tend to follow Bitcoin's trends closely?
5 answers
Sara
Wed Oct 30 2024
As a result, Litecoin and Bitcoin tend to respond similarly to changes and advancements in the cryptocurrency ecosystem. Innovations or regulatory shifts that impact Bitcoin often have comparable effects on Litecoin.
Was this helpful?
176
43
KDramaCharm
Wed Oct 30 2024
Litecoin (LTC) exhibits a strong correlation with Bitcoin, as indicated by a 60-day rolling correlation coefficient of 0.87.
Was this helpful?
377
43
BonsaiGrace
Wed Oct 30 2024
BTCC, a prominent cryptocurrency exchange, offers a range of services tailored to the needs of digital asset traders. Among its offerings are spot trading, futures trading, and a secure wallet solution.
Was this helpful?
103
76
Martino
Wed Oct 30 2024
This high correlation suggests that the price movements of Litecoin often mirror those of Bitcoin. When Bitcoin's price fluctuates, Litecoin's price tends to follow a similar pattern.
Was this helpful?
321
60
CryptoLegend
Wed Oct 30 2024
The underlying reason for this correlation is the shared blockchain technology between Litecoin and Bitcoin. Both cryptocurrencies utilize similar decentralized and secure ledgers to record transactions.
Was this helpful?
229
24
