Quote from: Adbitco on February 05, 2022, 01:01:38 AM

Quote from: Hsibalimrn on January 05, 2022, 05:24:41 PM

I think bitcoin price fluctuations have a deep relationship with other coin price fluctuations, what do you think about this?

let just say as it is constantly said "Bitcoin the King" yes that is true, all other cryptocurrency are reflection of bitcoin movement, they follows when the market comes up and down, most likely not all currencies though as it is elaborated on CMC while Bitcoin comes up most other cryptocurrencies looses and others gain as well.

It is a well known fact that altcoins have a high correlation with bitcoin, and this can be easily tested, if you put side to side the price of bitcoin and the price of almost any altcoin and you use a software like excel you can use the built-in correlation analysis to see if this is true or not.

And if you do the experiment you will see there is a very high degree of correlation between bitcoin and altcoins, does this means that they move in the exact same way? Of course not, but the timing and magnitude of the movements are extremely similar.