Does Correlation Between Bitcoin Price and Altcoins Mean Buy the Dips? - Cointelegraph

Currencies like Chainlink (LINK), Cosmos (ATOM), Crypto.com Chain (CRO) and Huobi Token (HT) also show a low correlation with Bitcoin – between 20% and 30% - during this period. Correlations during altcoins bullish periods During altcoins bullish periods like the one observed between December 2018 and March 2019, the correlations between the top currencies and Bitcoin are stronger across all cases except for USD Coin, which is slightly more negative than during Bitcoin’s bullish period (-7.8%).

However, Chainlink, Crypto.com, HedgeTrade, Huobi Token and Dash now show conflicting correlations with Bitcoin between the last bullish period and this prevents one from concluding that there is any consistent behavior between these currencies and Bitcoin. Under Bitcoin and altcoins bullish scenarios, stable coins show the lowest correlation with Bitcoin, while larger currencies such as Ethereum, Litecoin, Bitcoin Cash, NEO, Monero and XRP are always highly correlated with Bitcoin’s behavior.

Timeline of Bitcoin, Bitcoin-cash, Chainlink, Crypto-com, Dash, Ethereum, Litecoin, Monero, Neo, Usd-coin, Xrp