Bitcoin & Ethereum – Not Correlated As Thought
For those thinking BTC Ð’s price movements to be correlated, it seems that it is just not so
BITCOIN AND ETHEREUM NOT AS CORRELATED AS EVERYONE THINKS
Zhu compared monthly closes on BTC/USD and ETH/USD since Jan 2017. While some expect agreement in the market direction between the two almost all of the time, this is far from reality.
‘I can say that negative correlation between btc/usd and eth/usd shocks ppl a lot more than it should given how often its occurred.’
In fact, in 9 of the 36 months considered, the dollar price of Bitcoin and Ether moved in opposite directions. A full 25% of the time. Further, Zhu claimed that ‘In Q1 of every yr since genesis, eth has had a month of up 30% while BTC was down in the same month.'”