thinking out loud #3 Correlation of Crypto-currency.

in #busy6 years ago

Correlation of Crypto-currency.

Have you ever wondered why all crypto-currencies correlate directly with bitcoin? I believe that this is due to the fact that any altcoin is primarily sold for bitcoin. Developers of the new crypto currency are increasingly trying to enter the purchase of Alcoins through fiat money. But all the same, bitcoin was, and remains the main "reserve" currency in the crypto-currency world.
In the "real world" which currency is the most common? Dollar. Since it is the main reserve currency. Look at how many ICO projects were in 2017? Hundreds, thousands? I do not have the strength and patience to count all the ICOs that were in 2017. But we can look at the best projects that attracted the largest sums of money in the form of investments. Top 5 projects in 2017, attracted 1 billion dollars. And all projects were collected primarily by ETH and BTC.

Before you two identical graphics.

The first is the capitalization of the entire market.
The second is the capitalization of the crypto currency Bitcoin
Capitalization.PNG
BTC cap.PNG
As you can see, the charts are almost perfect.

Correlation exists and will exist as long as the crypto-currency world is developing.

If you, my reader is interested in this topic, then I will definitely do a more detailed analysis, not superficial.

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