Cryptocurrency Q&A What is the correlation between Bitcoin and ether?

What is the correlation between Bitcoin and ether?

EmeraldPulse EmeraldPulse Mon Jul 15 2024 | 1 answers 251
In the dynamic world of cryptocurrency, understanding the intricate relationship between the leading digital currencies is paramount. Could you elaborate on the correlation between Bitcoin, the original and most well-known cryptocurrency, and ether, the native currency of the Ethereum blockchain? Do they tend to move in tandem, with price fluctuations mirroring each other? Or is there a more nuanced relationship, where external factors or the unique features of each currency drive their respective movements? Understanding this correlation could provide valuable insights for investors and enthusiasts alike. What is the correlation between Bitcoin and ether?

1 answers

KimonoGlitter KimonoGlitter Wed Jul 17 2024
In statistics, a correlation coefficient of 1 indicates a perfect positive correlation, while 0 signifies no correlation.

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