Hello my crypto family!
I wanted to do some analyses and discover what is going on in crypto world and how we could exploit it
For the start, I took the TOP 35 cryptos according to coinmarketcap, their opening prices for this year.
I have only calculated correlation, to see what to do next.
I was surprised a bit...
Bitcoin was correlated (> 0.90) with: dash, BTC-gold, monero, qtum, BTC-cash, dogecoin, iota, litecoin and zcash
Ethereum was correlated with: icon, neo and STEEM
Litecoin with: monero, dash and BITCOIN
And our beloved STEEM was correlated with: stellar, ETHEREUM, cardano and icon
My theory is that the markets are mostly random, and so are your correlations. 😜
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
I tried several more advanced methods, ETH and STEEM are always the closest - I have no clue why...
Some cryptos are really random, living in their own little world (aethernity, binance-coin...), with correlation around 0 no matter which coin was used for comparison (+-0,20), but it seems like there are some clusters around the major players.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
What should I do on Saturday night, lemme think...
I know!!! Crypto correlations baby!!!
Let's get this party started!!!
😎 😎 😎
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
I think to some extent the entire crypto market is correlated. I mean there are some people that refuse to use certain cryptos/blockchain and some enthusiasts of different cryptos however if you have dipped into one crypto currency you will likely have your hands in other cookie jars.
And well, if one of the big ones is doing well then the rest tend to follow as people are more likely to buy crypto on bullish trends but when one starts to crash people will sell out of all of them in fear of them following and as such case it to crash.
This is my hypothesis, may not be right but this can also explain why steem and etherium have a stronger correlation as so many people cam to steem through etherium and when I joined steem a very big chunk of the cryptocurrency posts were etherium meaning we have a very big etherium community on the steem blockchain.
My hypothesis of the situation.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
I'll try with some moving windows to see for how long we experienced this and if something changed.
I'm also happy to see that steem is in a nice company of strong players *(ETH, BTC, Lite) in contrast to some shady new coins
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit