What is the historical price correlation between Litecoin and Bitcoin?

3 answers

• May 16, 2022 · 3 years ago
  The historical price correlation between Litecoin and Bitcoin has been quite strong. Both cryptocurrencies have shown a positive correlation, meaning that when the price of Bitcoin goes up, the price of Litecoin tends to follow suit. This can be attributed to the fact that Litecoin is often seen as a 'silver to Bitcoin's gold' and is considered a popular alternative to Bitcoin. However, it's important to note that correlation does not imply causation, and there may be other factors at play that influence the price movements of these cryptocurrencies.
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• May 16, 2022 · 3 years ago
  Over the years, Litecoin and Bitcoin have shown a strong positive correlation in their price movements. This means that when Bitcoin's price goes up, Litecoin's price tends to go up as well, and vice versa. This correlation can be attributed to the fact that Litecoin is often seen as a 'lite' version of Bitcoin and is considered a popular alternative for investors. However, it's worth noting that correlation does not necessarily imply causation, and there may be other factors that contribute to the price movements of these cryptocurrencies.
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• May 16, 2022 · 3 years ago
  According to a study conducted by BYDFi, the historical price correlation between Litecoin and Bitcoin has been consistently positive. This means that when Bitcoin's price goes up, Litecoin's price tends to follow suit, and vice versa. This correlation can be attributed to the fact that Litecoin shares many similarities with Bitcoin and is often considered a complementary cryptocurrency. However, it's important to remember that correlation does not imply causation, and there may be other factors influencing the price movements of these cryptocurrencies.
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