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Author Topic: weird correlation of Monero pump and Bitcoin bull-runs?  (Read 41 times)
Kryptowerk (OP)
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Today at 01:41:55 AM
 #1

I noticed something over the last few years: Often times, shortly before Bitcoin starts a really strong breakout, Monero (XMR) starts pumping first.
Usually a few days or at least hours prior.

Am I seeing ghosts or is that a real pattern?

Will provide some trading view pics soon - the software I used to compare two prices along-side just doesn't work the way I wish right now, will try again tomorrow.

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Today at 02:45:55 AM
 #2

Am I seeing ghosts or is that a real pattern?

Will provide some trading view pics soon - the software I used to compare two prices along-side just doesn't work the way I wish right now, will try again tomorrow.
I can't wait to see the pictures.

However, what I have noticed and still confirmed again is that Monero moved in correlation with Bitcoin, and this has been historical, just as most of altcoins do. If there are indications of initial movements before Bitcoin moves eventually, it could either be a mere coincidence or a prevailing effect started its impact stronger on it than Bitcoin. I doubt if Bitcoin hasn't been excited at that point too, but at times, some altcoins lead the race initially.

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Today at 03:15:33 AM
 #3

what timeframe has been considered? likewise one year / whole trading history?
this could be possible because there are also other elements that can bring such trade mechanics, something classic and cyclic likewise the "bearmarkets"...
I would not surprise both coins can act in such way, but this could be not enough since correlation doesn't imply causation Roll Eyes

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Today at 04:36:18 AM
 #4

It’s pretty much possible that what you’re notice is an actual and genuine correlation, but one thing I’ll advise you about would be actually treating this as some kind of reliable indicator. It’s possible for Monero and Bitcoin to move independently for some certain periods due to liquidity, news, market dynamics and what have you. But if you’re actually able to pull up a consistent multiple historical and cyclical record on this and actually check how often Monero moves has actually preceded significant Bitcoin price breakout, and when I say historically patterns, I’m not just talking about a few years, then maybe we can actually treat that as an indicator.

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Today at 06:49:38 AM
 #5

Sometimes Monero decouples from Bitcoin, but the relationship you described is a coincidence that occurs infrequently from what I can see. Most of the time they move in tandem in the same direction. It’s true that Monero started going up before Bitcoin during the most recent pump, but so was Zcash. ZEC went up more than both coins and it’s possible that being in the same category, other coins like Monero and Dash are benefitting from the hype it’s getting.

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