Tech News, Magazine & Review WordPress Theme 2017
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Trading
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Your Guest Blog
  • CRYPTO LIVEWIRE
    • Latest
    • Press Releases
    • Sponsored Posts
    • Submit Your Content
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Blog
    • Press release
    • Sponsored post
  • EXPLORE
    • eToro
No Result
View All Result
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Trading
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Your Guest Blog
  • CRYPTO LIVEWIRE
    • Latest
    • Press Releases
    • Sponsored Posts
    • Submit Your Content
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Blog
    • Press release
    • Sponsored post
  • EXPLORE
    • eToro
No Result
View All Result
The Daily Hodl
No Result
View All Result

Bitcoin’s Strong Bearish Momentum Shows Impact on Top Cryptocurrencies: ETH, XRP, BCH, LTC, EOS, BSV, TRX, ETC – OKEx Report

by OKEx Analysis
October 12, 2019
in HodlX
‏‏‎ ‏‏‎ ‏‏‎ ‏‏‎
HodlX Guest Post  Submit Your Post
 

Major tokens – interesting price behaviors and figures

Bitcoin’s price drastically dropped 12% on September 25th. At the same time, the vast majority of digital assets recorded significant losses. In this analytical research report, we performed a correlation analysis of traded tokens using the method in the previous research to find out how the market was affected during Bitcoin’s rough slump.

Highlights

1. Two major tokens showed a lesser degree of correlation than the others.

  • BSV and ETC were not affected as much as the other tokens
  • In particular, ETC price moved independently amid the strong bearish momentum

2. ETH lost its dominance during the massive turbulence.

  • In line with our previous research result, ETH shows a higher overall market connectedness
  • BTC price dominance remains higher than that of ETH

3. OKB is getting more integrated into the market

I. Correlation of Major Tokens

As shown above, the overall trend of those 10 major tokens is highly correlated to each other.

  • As mentioned in the last report, ETH is more correlated to other tokens compared to BTC. Interestingly, it is noticeable that EOS, BCH, LTC, TRX are getting more correlated to BTC as well.
  • BSV is less connected to other major tokens.

To see how much the market’s connectedness has been changed in September, we compared the price movement during a short-term period.

II. Microscope on Correlations

  • As shown above, BSV is the least correlated token among all major tokens and is now decoupling further.

  • Before the drastic price fall, there were no dominant correlation changes.
 
  • The price drop happened during the 4th week of September. We examined how the market behaved during the price turbulence.
  • BTC’s market relationship to all other major markets became more correlated.
  • In particular, ETH stopped its independent price move and became more correlated during that time.
  • Despite the price drop of ETC, its price movements are less correlated to BTC and others.
  • OKB moved altogether with the major tokens during that time.

III. Remarks

The overall market followed the bearish momentum triggered by the dramatic Bitcoin price slump. This research reveals interesting price behaviors and figures on the major tokens during that time.

Although Ethereum (ETH) is reaching a wider application and has generated a lot anticipation for Ethereum 2.0, it is obvious that its price movements are still highly correlated to Bitcoin. On the other hand, the price of Ethereum Classic (ETC) moves with a higher degree of independence.

This post originally appeared on Medium. Read more.

Disclaimer: This material should not be taken as the basis for making investment decisions, nor be construed as a recommendation to engage in investment transactions. Trading digital assets involve significant risk and can result in the loss of your invested capital. You should ensure that you fully understand the risk involved and take into consideration your level of experience, investment objectives and seek independent financial advice if necessary.


About OKEx

OKEx is a world-leading digital asset exchange headquartered in Malta, offering comprehensive digital assets trading services including token trading, futures trading, perpetual swap trading and index tracker to global traders with blockchain technology. Currently, the exchange offers over 400 token and futures trading pairs enabling users to optimize their strategies.

Follow us on Twitter.

Check our latest press material on Press Room.

 
Check Latest Headlines on HodlX


Follow Us on Twitter Facebook Telegram

Check out the Latest Industry Announcements
 

Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Submit a Press Release

Crypto Livewire – Press Releases

  • Mogul Brings NFTs and DeFi to the Film Industry, Announces Access Pass Sale
    March 5, 2021
  • eToro and DS TECHEETAH Change Face of Sponsorship With Unique Profit Only Deal
    March 3, 2021
  • Unifi Farms Beta Launches on Unifi Protocol to Pioneer No-Stake Farming
    February 26, 2021
  • Bang Bang: Critical Factors Fueling Rise of the Retail Investor
    February 25, 2021
  • How Traders Make Money in Both Bull and Bear Markets on BigoMex
    February 25, 2021
Submit a Guest Post
ADVERTISEMENT
Bitcoin
$48,548.00
$48,548.00
0.67%
Ethereum
$1,619.81
$1,619.81
5.47%
Binance Coin
$226.47
$226.47
0.36%
Polkadot
$33.62
$33.62
0.12%
Cardano
$1.12
$1.12
4.49%
XRP
$0.462464
$0.462464
0.23%
ADVERTISEMENT

Spotlight

  • Max Keiser Says Bitcoin Could Rise 300x, Top Crypto Targeting US Dollar Dominance
    March 1, 2021
  • Five Crypto Projects Are Going Mainstream This Month, Says Altcoin Daily’s Austin Arnold
    March 5, 2021
  • Whale Abruptly Sends $400,000,000 in Bitcoin to Coinbase in Massive Crypto Transfer
    February 27, 2021
  • Bitcoin Could Be at Start of Massive Mainstream Transformation: Citi Report
    March 3, 2021

DON’T MISS A BEAT

Crypto headlines delivered daily
to your inbox
BTC, ETH, XRP news alert options

By joining The Daily Hodl news list you agree to our
Terms and Conditions and Privacy Policy.

Check your inbox for confirmation email.

Cryptocurrency news and analysis, covering Bitcoin, Ethereum, Ripple, XRP, altcoins and blockchain technology

Categories

Bitcoin • Ethereum • Trading •
Ripple and XRP • Altcoins •
Blockchain • Regulators •
Scams • Crypto101 • HodlX • Explore • Futuremash •
Crypto Livewire

ABOUT US | EDITORIAL POLICY | PRIVACY POLICY
TERMS AND CONDITIONS | CONTACT

JOIN US ON TELEGRAM

JOIN US ON TWITTER

JOIN US ON FACEBOOK

COPYRIGHT © 2017-2021 THE DAILY HODL

No Result
View All Result
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Trading
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Your Guest Blog
  • CRYPTO LIVEWIRE
    • Latest
    • Press Releases
    • Sponsored Posts
    • Submit Your Content
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Blog
    • Press release
    • Sponsored post
  • EXPLORE
    • eToro

© 2020 The Daily Hodl

×
We use cookies to give you the best online experience possible. Continue browsing if you are happy with that, or see how to manage cookies.