The Daily Hodl
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Financeflux
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Guest Post
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • ChainWire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Binance Coin (BNB)
  • 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 Post
    • Press Release
    • Sponsored Post
    • Advertise
  • EMAIL ALERTS
  • DAILY HODL MIX
No Result
View All Result
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Financeflux
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Guest Post
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • ChainWire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Binance Coin (BNB)
  • 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 Post
    • Press Release
    • Sponsored Post
    • Advertise
  • EMAIL ALERTS
  • DAILY HODL MIX
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

Industry Announcements

  • Radix Babylon Upgrade Marks New Era for Web 3.0 User and Developer Experience
    September 28, 2023
  • Tyrion Set To Decentralize the $377 Billion Digital Advertising Industry
    September 25, 2023
  • Hydranet Launches Layer Three Dex – A Game Changer for Trustless Cross-Chain Trading
    September 25, 2023
  • Ottochain Homage to EVMOS and Ethereum Layer Two
    September 21, 2023
  • Algorand Foundation Announces Build-a-Bull Hackathon in Collaboration With AWS
    September 20, 2023
  • OKX Achieves SOC 2 Type II Certification, Demonstrating Its Industry-Leading User Safety, Security and Compliance Standards
    September 20, 2023
  • Dexalot Unveils SimpleSwap and SimpleView Features for Enhanced User Experience
    September 19, 2023
Submit a Guest Post
ADVERTISEMENT
Bitcoin
$27,149.27
$27,149.27
0.56%
Ethereum
$1,683.59
$1,683.59
0.08%
Cardano
$0.25997
$0.25997
2.89%
XRP
$0.519447
$0.519447
0.48%
Dogecoin
$0.062524
$0.062524
0.73%

Spotlight

  • Top Trader Says Bitcoin Bottom Not in Yet, Predicts New Six-Month Lows for BTC – Here’s His Downside Target
    September 24, 2023
  • Analyst Willy Woo Says This ‘Enemy’ of Bitcoin (BTC) Rearing Its Ugly Head Again
    September 24, 2023
  • Classic Bitcoin Indicator Suggests 2024 Bull Run, Says Trader Who Called May 2021 Collapse
    September 24, 2023
  • Brian Armstrong Says Crypto Lobbying Needs To Become Powerful and Sophisticated Before 2024 Election
    September 24, 2023
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.
Featured Image: Shutterstock/Billion Photos

Covering the future of finance, including macro, bitcoin, ethereum, crypto, and web 3.

Categories

Bitcoin • Ethereum • Trading •
Ripple and XRP • Altcoins •
Blockchain • Regulators •
Scams • Crypto101 • HodlX •
Futuremash • Financeflux •
Industry Announcements

 

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

JOIN US ON TELEGRAM

JOIN US ON X

JOIN US ON FACEBOOK

COPYRIGHT © 2017-2023 THE DAILY HODL

No Result
View All Result
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Financeflux
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Guest Post
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • ChainWire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Binance Coin (BNB)
  • 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 Post
    • Press Release
    • Sponsored Post
    • Advertise
  • EMAIL ALERTS
  • DAILY HODL MIX

© 2023 The Daily Hodl