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.
This is a good observation but there is no valid indication that the increase in the price of Monero (XMR) has a direct effect on the price of bitcoin, maybe its just an instinct which seems valid but how about we look at it from a different perspective.
1. Traders/Investors take profits after an increase in the price of Monero and buy actual real coins like Bitcoin, Ethereum and others which forces the bull action.
2. There could be an internal buy pressure that forces the correlation between Monero and Bitcoin but might not signal a bull run season.
There could be the slightest chance that it could be an internal set-up and not an actual Bitcoin price action. Is it just my imagination or this could be valid?