NEW CHART (@ 2020-07-31 16:39:49)
Are we entering a new crypto bull-run? That's the thought on everyone's mind. Bitcoin search interest on Google is increasing a little but not by much more than we saw earlier in the year, we've got hedge fund managers openly discussing investing in it and Joe Rogan tells 200m listeners to buy Bitcoin. Perhaps more interesting is which cryptocurrencies can be expected to move along with Bitcoin, and this chart tells us that certainly Ethereum, Ripple, Monero and EOS have done to a large degree. Their average correlation with Bitcoin is 0.39. Others that may not be so lucky? Possibly Cardano (correlation 0.07), ChainLink (correlation 0.01), VeChain (correlation 0.0) and Stellar (correlation 0.10). Are we seeing the crypto market split in two? -LSS Quant Team
