Correlation between BTC/USDT and ETC/USDT: In harmony
I am writing this in response to a comment made by Crypto.888, in a post made by Ivan Labrie on Tradingview.
As I do not have a Pro Tradingview subscription, nor do I see myself using the Pro anytime soon, I've decided to put up some thoughts adding into Ivan's analysis.
In case you are wondering what this is about, TL:DR --> There is a nice correlation between the BTC/USDT trend and the ETC/USDT trend on the Poloniex exchange. This might give you a better understanding of the track record performance of ETC since the beginning of 2017. Enjoy!
@kesterwong: https://www.tradingview.com/x/jzWgH1gd/
The idea is that despite correlation, performance of $ETC is better when bullish, and less worse or better when bearish. Thus, the $ETCXBT chart is in an uptrend, and shines when $BTC drops. So, you can margin long $ETCXBT as a means to shorting $XBT.
Of course Ivan, I would not easily buy into believing that the bullish performance would/could outperform the bullish performance of ETC, especially for a relatively undervalued coin that has recently been released in at least three major exchanges in China, and then there's the Emerald wallet.
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