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What coins are negatively correlated with bitcoin

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Comparing bitcoin to traditional asset classes and indexes over the last year or 252 trading days, bitcoin is most correlated with many benchmarks of risk: S&P 500 Index, Russel 2000 (small cap stocks), QQQ ETF, HYG High Yield Corporate Bond ETF and the FANG Index (high-growth tech).

What is BTC correlated to?

It is often influenced by several factors, including market conditions, investor sentiment, and regulatory developments. Outside crypto, BTC has a correlation with different assets in the financial playing field, including the US Dollar (USD) and Gold.

Which coin can compete with bitcoin?

If you're thinking of investing in cryptocurrencies, you're probably already considering Bitcoin. But other coins, like Ethereum, Ripple, Litecoin, Cardano, Binance Coin, Polkadot, Solana, and Avalanche are strong options for diversifying your crypto portfolio.

What stocks correlate with bitcoin?

Crypto-specific stocks A few crypto-related equities have been more correlated to Bitcoin than any other assets on the market. The 90-day correlation coefficient for BTC/MSTR, BTC/COIN, and BTC/RIOT have all remained near 1 for the last several months.

Which Altcoins have a negative correlation to Bitcoin?

Many have gone from near total correlation last year to a negative correlation now. They include Binance coin, Cardano, Dogecoin, Polkadot, Matic, Litecoin and Avalanche. Only Ethereum, Ripple, Solana and Chainlink still have a close relationship with the price movements of Bitcoin.

Which crypto will grow like bitcoin?

Best Crypto 2024
CryptocurrencyMarket CapTokenomics
Ethereum ETHVery HighGreat
Binance Coin BNBHighMedium
Cardano ADAHighOkay
Polkadot DOTHighOkay

Which crypto can compete with bitcoin?

If you're thinking of investing in cryptocurrencies, you're probably already considering Bitcoin. But other coins, like Ethereum, Ripple, Litecoin, Cardano, Binance Coin, Polkadot, Solana, and Avalanche are strong options for diversifying your crypto portfolio.

Frequently Asked Questions

Which altcoins have a negative correlation to Bitcoin?

Many have gone from near total correlation last year to a negative correlation now. They include Binance coin, Cardano, Dogecoin, Polkadot, Matic, Litecoin and Avalanche. Only Ethereum, Ripple, Solana and Chainlink still have a close relationship with the price movements of Bitcoin.

What crypto will rival Bitcoin?

If you're thinking of investing in cryptocurrencies, you're probably already considering Bitcoin. But other coins, like Ethereum, Ripple, Litecoin, Cardano, Binance Coin, Polkadot, Solana, and Avalanche are strong options for diversifying your crypto portfolio.

Which crypto does not depend on Bitcoin?

The term altcoin refers to all cryptocurrencies other than Bitcoin (and for some people, Ethereum). There are tens of thousands of altcoins on the market. Altcoins come in several types based on what they were designed for.

What coins correlate with Bitcoin?

BitcoinBitcoin Cash
Ethereum0.4160.201
XRP0.5150.402
Litecoin0.1820.29
Bitcoin Cash0.0711

FAQ

What is the BTC dominance correlation?
Definition of Bitcoin dominance To calculate Bitcoin dominance, simply divide the market cap of all other cryptocurrencies by the market cap of Bitcoin. For example, if Bitcoin's market cap was $100 billion, and the total crypto market cap was $200 billion, Bitcoin dominance would be at 50%.
What coin goes up when Bitcoin goes up?
If Bitcoin's in the green, more often than not Ethereum, Litecoin, Cardano, and EOS are on the up as well. There are always exceptions, but generally, the correlation between Bitcoin and altcoin price is steady. However, not all cryptocurrencies follow the same patterns as Bitcoin.
Which crypto has negative correlation to Bitcoin?
Binance Coin, KuCoin Shares, and Huobi Token, like DGTX, are all altcoins with negative correlation to Bitcoin generally.
What coin goes up when Bitcoin goes down?
During times of Bitcoin downturns, stablecoins like USDT often see increased usage as a safe haven due to their stability compared to more volatile cryptocurrencies. That's a tough question, but there are tokens like BGB that have shown a knack for performing well when Bitcoin is on a downward trend.

What coins are negatively correlated with bitcoin

What correlates to BTC? Outside crypto, BTC has a correlation with different assets in the financial playing field, including the US Dollar (USD) and Gold. This explains the narrative, “Bitcoin is trading like a tech stock” alongside its often acute inverse relationship with the United States dollar.
What is the coin to rival Bitcoin? Ethereum Ethereum was one of the first altcoins, or alternatives to bitcoin. Ethereum was launched in July 2015 and is the most valuable crypto other than bitcoin. Ethereum's blockchain was the first to introduce smart contracts, code that runs decentralized applications, or dApps.
What crypto will beat Bitcoin? And that means the underlying cryptocurrencies of valuable digital economies will likely be more valuable than Bitcoin. Three that I think have a chance to beat Bitcoin long term are Ethereum (ETH -0.75%), Solana (SOL -1.98%), and Polygon (MATIC 1.62%).
Which crypto correlates with Bitcoin? Ethereum A result of 0 means there is no relationship whatsoever between the two variables. BTC also has a high 0.94 correlation to Ethereum (ETH). Smart investors tend to spread their risk by investing in different cryptocurrencies, as opposed to putting all their money in one basket.
  • Which coin can compete with Bitcoin?
    • If you're thinking of investing in cryptocurrencies, you're probably already considering Bitcoin. But other coins, like Ethereum, Ripple, Litecoin, Cardano, Binance Coin, Polkadot, Solana, and Avalanche are strong options for diversifying your crypto portfolio.
  • What coins go up when Bitcoin goes up?
    • If Bitcoin's in the green, more often than not Ethereum, Litecoin, Cardano, and EOS are on the up as well. There are always exceptions, but generally, the correlation between Bitcoin and altcoin price is steady. However, not all cryptocurrencies follow the same patterns as Bitcoin.
  • What is the best correlation with Bitcoin?
    • Silver has the highest correlation, peaking at 0.26 for silver and bitcoin. Bitcoin, the so-called 'digital gold,' exhibits only weak correlation with the precious metal.