Which cryptocurrencies have the highest correlation with Bitcoin?

3 answers

• May 01, 2022 · 3 years ago
  Bitcoin is the most well-known and widely traded cryptocurrency, and it often sets the trend for the entire market. As a result, many other cryptocurrencies have a high correlation with Bitcoin. Some of the cryptocurrencies that have been found to have a high correlation with Bitcoin include Ethereum, Litecoin, and Ripple. These cryptocurrencies often experience similar price movements as Bitcoin, although the degree of correlation may vary over time.
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• May 01, 2022 · 3 years ago
  When it comes to the highest correlation with Bitcoin, Ethereum is often considered the closest contender. Ethereum is the second-largest cryptocurrency by market capitalization and is often seen as a complementary asset to Bitcoin. Other cryptocurrencies that have a high correlation with Bitcoin include Litecoin, Ripple, and Bitcoin Cash. These cryptocurrencies tend to move in the same direction as Bitcoin, although the correlation may not be perfect at all times.
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• May 01, 2022 · 3 years ago
  According to a study conducted by BYDFi, a digital currency exchange, the cryptocurrencies with the highest correlation to Bitcoin are Ethereum, Litecoin, and Ripple. These cryptocurrencies have a strong positive correlation with Bitcoin, meaning that they tend to move in the same direction as Bitcoin. However, it's important to note that correlation does not imply causation, and the correlation between cryptocurrencies can change over time.
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