ETH BTC: correlation is decreasing

[bene_gesserit]

hi there,

it would seem that the correlation coefficient between ETH and BTC has been decreasing:
https://enroyd.com/ETH_Correlations/

Would a constant correlation coefficient around 0 indicate that Ether's price no longer depends on BTC? Are there any Stats experts here in the forum?

Thanks!

[reactorjuno]

hi there,

it would seem that the correlation coefficient between ETH and BTC has been decreasing:
https://enroyd.com/ETH_Correlations/

Would a constant correlation coefficient around 0 indicate that Ether's price no longer depends on BTC? Are there any Stats experts here in the forum?

Thanks!

Won't call myself an expert but from my own observation, even last year when Bitcoin was going strong, there were times when Ethereum was struggling a lot (the Crypto kitties episode for instance).

However in January 2018 it was the other way around, Bitcoin declining while Ethereum going strong, unfortunately for the latter it did not last too long.

If the correlation is less obvious than before, it is good news for several reasons: It means people buy the coins for the very concept behind the projects, and not only to speculate. Before the concepts of both coins are obviously very distinct, it makes sense that in the future, there will be less and less correlation.

[Dobby070]

hi there,

it would seem that the correlation coefficient between ETH and BTC has been decreasing:
https://enroyd.com/ETH_Correlations/

Would a constant correlation coefficient around 0 indicate that Ether's price no longer depends on BTC? Are there any Stats experts here in the forum?

Thanks!

It's just the effects of the upcoming hardfork that will going to take place in ETH. For the next months, the ETH might as well go back to be dependent in terms of price to bitcoin who is currently has a huge impact on other cryptocurrency.

[qazgroup]

I think that correlation is still there but it is the fundamental news and upgrades that is pushing eth upwards and more bulls are expected towards the mid of this month looks like eth will lead the market this time around and btc alongwith alts will follow.

[Smon]

Would a constant correlation coefficient around 0 indicate that Ether's price no longer depends on BTC? Are there any Stats experts here in the forum?

Thanks!

I don't see whether it is correlated or correlated, every coin represents a different force in cryprocurrency, everyone wants to make the king of the remaining altcoin, but everything just compares, following me on price. Fortunately, they are correlated, the prices of both ETH BTC are fluctuating slightly, showing good growth in the future 

[Psynthax]

hi there,

it would seem that the correlation coefficient between ETH and BTC has been decreasing:
https://enroyd.com/ETH_Correlations/

Would a constant correlation coefficient around 0 indicate that Ether's price no longer depends on BTC? Are there any Stats experts here in the forum?

Thanks!

It's just the effects of the upcoming hardfork that will going to take place in ETH. For the next months, the ETH might as well go back to be dependent in terms of price to bitcoin who is currently has a huge impact on other cryptocurrency.

Not sure about that and it seems like ether was building its own way and tried to leave from the bitcoin domination. that's indeed if ethereum can't be 100% independent from the domination of bitcoin but at least that will stand alone.

[passeroutpass]

The price of the Ethereum will always depend on Bitcoin. just at the moment, an update is coming and against the field of this news, the price is rising despite Bitcoin

[Red-Apple]

in the past couple of years that ethereum has been around (3-4 years?) there has never been any "correlation" between price of ETH and price of BTC. some people tried to connect the two together but it has always been more of a fatal attempt.

the only "correlation" you can ever find is this:
- when bitcoin falls all the altcoins including ETH will fall down and they usually fall down harder
- when bitcoin is stable like these days, the traders favor pumpable altcoins more because they can make more money from them.

[Cnut237]

hi there,

it would seem that the correlation coefficient between ETH and BTC has been decreasing:
https://enroyd.com/ETH_Correlations/

Would a constant correlation coefficient around 0 indicate that Ether's price no longer depends on BTC? Are there any Stats experts here in the forum?

Thanks!

It's just the effects of the upcoming hardfork that will going to take place in ETH. For the next months, the ETH might as well go back to be dependent in terms of price to bitcoin who is currently has a huge impact on other cryptocurrency.

I agree 100%. This is extremely likely to just be the effect of the upcoming Constantinople ETH upgrade. I would expect ETH to remain tied to BTC for a long time.

[icalical]

I have been expected this thing since last year I guess, the main factor is that so many exchanges now has been offering ETH pair, and so the traders trade altcoins directly to ETH if they want to buy some ether, they do not need to buy Bitcoin first to get Ethereum. This make ETH price very independent compared to other altcoin that has fewer pairs.

[batang_bitcoin]

Don't assume that ethereum's price is no longer depending on bitcoin.

You're thinking too much about that base on what your eyes can see. But when the time again comes that the whole market would plummet, you'll all put the blame to bitcoin because its still on the bear market. This only tells that crypto's are very unpredictable, sometimes they doesn't look correlated.

[Emperor of Man]

An interesting site (your link). As I see it, ETH correlation decreased a few times in the past months, and even went to negative amounts, but every time it eventually returned to near 1.0 numbers.

The correlation between BTC and alts is very complicated IMHO, and it used to be different in the old times. Nowadays most of the alts seem to be closely related to BTC, and it has heavily damaged us altcoin hodlers when BTC is so bearish.

[TooDumbForBitcoin]

hi there,

it would seem that the correlation coefficient between ETH and BTC has been decreasing:
https://enroyd.com/ETH_Correlations/

Would a constant correlation coefficient around 0 indicate that Ether's price no longer depends on BTC? Are there any Stats experts here in the forum?

Thanks!

You need to see the full picture of this correlation changing. We on top as you can see  . Nobody free from the grandfather's impact at the moment

[Ryananda]

what we often see in the market between ETH and BTC they are interdependent in price even though it doesn't exist at all, because between ETH and BTC they have their own prices so there is no dependency.

[cabron]

hi there,

it would seem that the correlation coefficient between ETH and BTC has been decreasing:
https://enroyd.com/ETH_Correlations/

Would a constant correlation coefficient around 0 indicate that Ether's price no longer depends on BTC? Are there any Stats experts here in the forum?

Thanks!

Yes. It looks like ETH doesn't depend to BTC now that its price stick to its range while BTC shoots up yesterday. A lot of volume were poured much on BTC than ETH yesterday, it could mean that ETH isn't that lucrative to them but those guys may just be sticking now to BTC because they know its rising.

[casternetwork]

I think that correlation is still there but it is the fundamental news and upgrades that is pushing eth upwards and more bulls are expected towards the mid of this month looks like eth will lead the market this time around and btc alongwith alts will follow.

And you think it's price correlation in the future, I suppose. And given that it will soon happen, this correlation is essential for this crypto market to work well and become stronger in the future, better development of prices is essential 

[babyxxbaby]

I am sure that the price of ether in the future will not depend on the rate of bitcoin. Different blockchains and different work of teams. Bitcoin has long been in free floating and is just a speculative tool. ETH improves its functionality and provides fast and cheap transactions. In the near future we will not see bitcoin.

[upsidedown75]

it would seem that the correlation coefficient between ETH and BTC has been decreasing:
https://enroyd.com/ETH_Correlations/

Would a constant correlation coefficient around 0 indicate that Ether's price no longer depends on BTC? Are there any Stats experts here in the forum?

Ethereum has been making a name for itself for years now and trying to find a way to get it directly instead of buying bitcoin and using bitcoin to buy ethereum. Right now, you can buy ethereum directly without ever having a single satoshi of bitcoin. That allowed ethereum to become big in itself without having a connection to bitcoin. This caused the prices to be a bit separate as well.

With this new upcoming hard fork for example people started to buy ethereum because they believe this hard fork will allow them to carry on better with ethereum, while bitcoin is going up and down a bit and changing places constantly, ethereum was capable of increasing almost double of what it used to be. That is why we can clearly say in normal days ethereum is not really connected to bitcoin anymore. Of course during a bull or bear market where EVERYTHING goes up or down, they still move together as expected.

[NeuroticFish]

There were days when Bitcoin rose and altcoins rose.
There were days when Bitcoin was falling and altcoins rose.
There were days when Bitcoin rose and altcoins were falling.
There were days when Bitcoin was falling and altcoins were falling.

In 2018 all were falling and I see that somebody finally found some rules in something that doesn't really have rules.


Shortly: Sorry, but there never was a correlation between them...

[Dellosoft]

Generally speaking the price of all altcoins depend on that of BTC. Recently the uptrend in ETH price showed something contrary, even when BTC price was somehow on the downside,  but that is probably because of the very great Constantinople update. Many people are actually waiting for the hardfork to take place.