This time with a comparison between BTC and XRP
Clearly market with party opposite and partly identical patterns.
I suggest there is only a little correlation, the congruence you see might be random as well.
Keep in mind the distortion in price through adjustment of both charts.
Apart from that I have identied a "visual" correlation between BTC and ETH and BTC and DASH which is often contrary.
This table might help you as well:
cointrading.ninja/correlation
The correlation factor can be used for adjusting your portfoliio before or when BTC is bearish already.
Nevertheless when BTC is having a strong dip it will drg down alts as well.
This idea is not for placing buy/ sell orders, this is ment as orientation in volatile times.
Clearly market with party opposite and partly identical patterns.
I suggest there is only a little correlation, the congruence you see might be random as well.
Keep in mind the distortion in price through adjustment of both charts.
Apart from that I have identied a "visual" correlation between BTC and ETH and BTC and DASH which is often contrary.
This table might help you as well:
cointrading.ninja/correlation
The correlation factor can be used for adjusting your portfoliio before or when BTC is bearish already.
Nevertheless when BTC is having a strong dip it will drg down alts as well.
This idea is not for placing buy/ sell orders, this is ment as orientation in volatile times.