What a cryptocurrency is able to keep up with the Bitcoin profitability?

The largest cryptocurrency Bitcoin still plays in a League of its own — especially if you compare it to profitability with Fiat currencies like the dollar. However, in the world there is at least one asset that can give up to 70 per cent of the profitability of BTC.

The Bitcoin Cash Bitcoin catching up

24 Sep analyst under the name of Skew has shared his observations on Twitter. His stats sheds light on the behavior of altcoins, which used to have a habit of repeating all of the price movements of Bitcoin.

Graph Analytics from tweets under the name Skew. Source: Twitter

Review-the entry was as follows.

Now there is no one currency that is able to give at least more than 70% of what I can bring to Bitcoin.

As it turned out, now the most correlated with the major asset is the cryptocurrency Bitcoin Cash. Token brought investors and hodlers 69.8 percent of the possible profits that would have brought them a BTC. The next part of the profitability comes second in terms of market capitalization cryptocurrency Efirom. The project Vitalik Buterin could bring only 59.8 per cent of Bitcoin.

The impression that Skew slightly surprised by the result. Considering the fact that a Cash of Bitcoin is the Bitcoin hardforum.

Interestingly, BCH even more correlated with Ethereum than Bitcoin. Correlation to Cash Bitcoin to Ethereum is 84.2 percent.

Two coins with the greatest measure of correlation from the top ten cryptocurrencies by market capitalization also include a Bitcoin Cash. However, in this case we are talking about BCH and Lidoine, the graphics are similar to 87.6 percent.

As for the smallest correlation with Bitcoin, then, for example, the Stellar , the figure is 15.6, and the XRP – 23 percent.

Altcoins come back?

After several months of relatively independent activity, altcoins, as it seems, in September began to return to a high degree of relationships with the largest cryptocurrency. Recently came even to the point that analysts were talking about the end of the era of altcoins, as tokens all became cheaper and cheaper. Regardless of the UPS or downs of Bitcoin.

Source: 2Биткоина

The behavior of Bitcoin and alternative cryptocurrencies in General raises many questions and generates many hypotheses. Here, for example, says the Creator trading bot HodlBot Anthony CoE.

For me, this means that we are still in the nascent stage of the industry, and so the movements of the cryptocurrency can be completely inconsistent. Subsequently, however, we will be able to use all these charts and historical data. They will help us in the future.

It should be noted, the future of cryptocurrency now also in serious doubt. Especially when you consider the significant setbacks in the past few days. Even Bitcoin, despite all the available levels of support, fell in price by almost 20 percent. At the time of writing, the Bitcoin price is 8350 dollars is the lowest since the end of August.

Let's not forget that in accordance with the effect of the Lindy 's main cryptocurrency will live at least another ten years. That is the same as it existed before. So to bet on Bitcoin is quite safe. If you are ready to survive the fall, of course.

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