Is there a correlation between price and major wallet upgrades?

[SquallLeonhart]

Well, there is a correlation between major upgrades and attention, not price. Of course, most of the time the major upgrades and news means good things and that attention is good attention and people do end up buying. However there could be ones not liked by the people and that could end up meaning that people will sell their coins as well.

Yes, selling would cause drop so yes that is price as well. It means there is 99% chance that any major upgrades on any coin could potentially mean that the price will change too, there is definitely a correlation. I would say it is not right on the day though, it is a bit before or a bit later that changes the prices, which is why I think it is quite risky to make a move since you do not know if it will be a downward thing or an upward thing.

[1715655944]

1715655944

[1715655944]

1715655944

[Mahanton]

I think there could be some correlation but its not a good indication though. We all know that crypto market is based on news, and maybe this is the main reason why we see sudden surge on price when the projects behind released new wallet softwares. Again, it just a news that could bring hype but unfortunately it won't be a sustainable run.

But as far as bitcoin wallet goes, I don't think there's no correlation. Electrum just release their 4.0.1 upgrades with support for Lightning, but it didn't have a dent on the price. Perhaps correlation as just for the altcoin market alone.

Bitcoin market wont just easily react into that recent Electrum upgrade basing of that there were several wallets if we do talk in Bitcoin storage unlike on alts which do have only their own wallet based on platform.
I agree that this market is highly reactive when it comes to news or some sort which it isnt really bad for a trader or investor to consider on making out steps in the times like these.Its up to your choice though if you decide
to get in when possible news is coming out neither it would dump the price or would most likely to hype or would just standstill. Its a matter of choice for you to take on.

[yhiaali3]

Historically, LTC followed bitcoin in every ups and downs, but with the major developments that got bitcoin, Litecoin remained the same which led to a significant decline in its price and became unable to catch up with bitcoin.
Nevertheless, LTC remains among the top ten currencies in the market and I think its price will improve significantly until the end of the year 2020 based on expectations and developments that will happen on Litecoin.
Here there is a good study on the history of LTC as well as price predictions until the end of the year:
https://capital.com/litecoin-price-prediction-2020

[MCobian]

There is no correlation between the price and the major wallet upgrade, if BSV, RDD, ADA or other coins the price surged when the major wallet upgrades.
It was just a coincidence, prices surged when the demand for coins increased. Then related to LTC without big upgrade events namely privacy integration,
I still believe that LTC prices will surge. Because LTC is indeed a very good potential coin for short-term or long-term investments.

[Harlot]

As far as "connections" goes in these kind of events you will only have hype backing it with people speculating that the price will go up because of that particular event. But if we are talking about real demand for the crypto pumping it, you won't really expect this to be the reason why. I don't see how people or the demand for that crypto will increase just because their wallet got upgraded if only we have enough number of people in the crypto industry and the volume of transactions prove it than your connection will be convincing but as of the moment it is not the case.

[rexxarofmoknathal]

Beginning of 2020: BSV wallet ver. 2 released => price surged

A few months later: Reddcoin and Cardano had major upgrades => price surged for both

Is there a correlation or just coincidence? I doubt that this reflects a correlation between wallet upgrade releases and coin price change, even if there is a tiny correlation that is not significant enough to be trusted. The reason for this is that traders and others heavily involved in the market don't really use wallets, they instead use exchanges. The pumps seen cannot be as a result of wallet upgrades, as only holders really use wallets.

[Quidat]

Beginning of 2020: BSV wallet ver. 2 released => price surged

A few months later: Reddcoin and Cardano had major upgrades => price surged for both

Is there a correlation or just coincidence? I doubt that this reflects a correlation between wallet upgrade releases and coin price change, even if there is a tiny correlation that is not significant enough to be trusted. The reason for this is that traders and others heavily involved in the market don't really use wallets, they instead use exchanges. The pumps seen cannot be as a result of wallet upgrades, as only holders really use wallets.

It doesnt directly particularly talk about wallet usage but it do talks about on the news that was given out on such update.We know that market is highly reactive with news thats why traders/investors are
really looking out for these kind of information that pop out and presume that it will really give significant punch or reason for the price to move or dump.After all the years we've been here on this market
we can really able to say so that even just price speculations or shill out from popular person online can possibly hype the price or even spread up some Fud.Its up all to the supporters if they would
buy it or just simply ignore it thats why we cant see anytime that these calls are effective.

[LbtalkL]

Every project now is doing the same, if they have something coming up they are trying to hype it, any update like mainnet, forks, wallet update, etc. Most of the time many people will ride on the news update, I guess that is the cause why projects surge temporarily but it only happens on projects with a good reputation already. I have seen not well-known projects doing an update it has no effect at all just like nothing happened.

[Kelvinid]

We can't disclose that chance also to be of a coincidence that it happens to BSV, Reddcoin, and Cardano. And all of these things will give us a hint to think that it also be of the same chance to look at if there is another wallet upgrade just like for LTC. It was in the market demand and hypes pushes their price to move as we obviously see but could be of something it helps the case of wallet upgrade.

I have this reference Factors that can influence the price to make clear how the price change and it was to mention about software upgrade. Well, that is possible to happen.

[ashmodeus]

~~

well, about it, it depend how that event make a attraction to the whales. u know,even LTC halving still make low attraction to the investor,almost 1 year after halving and still doesn't give a positive impact,on another perpective, i just think LTC following bitcoin movement,so whatever they created a major event,it won't change anything if the btc is still the same.