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

Cointelegraph | Feb 17, 2020 at 2:24 AM
  • Price reached a new 2020 high on Feb. 13, 2020, crossing $10,497 following a 42% gain since the start of the year.
  • The most notable currencies correlated with Bitcoin are Ether (ETH), Dash, Bitcoin Cash (BCH), Monero (XMR) and EOS with correlations between 74% and 82%.
  • On the other side, USD Coin (USDC) has the lowest correlation from all currencies, with a negative relationship (-4.3%), followed by HedgeTrade (HEDG) with a 13.3% correlation.