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XMRBTC during XBTUSD bubble

dnaleor posted this 10 years ago

dnaleor | 10 years ago

What do you think will happen with the XMRBTC pair when XBT goes into "bubble mode" ?

Up, down, or no effect?

Replies: 7
catcow edited 9 years ago Weight: -869 | Link [ - ]

The most recent BTCUSD crazy-rally (to $1,242 on mtgox) seemed to induce manic rallies in PPC and LTC (maybe others as well, but I was only watching these). I think this will likely be the case for any alts worth their salt for the next crazy BTCUSD rally; however, that could be several months, or even years, away.

dnaleor edited 9 years ago Weight: -894 | Link [ - ]

personally, i think the correlation is, at the moment, positive. exchange rate went down when bitcoin hit the new low at 275 USD, XMR is now back up a little, bitcoin also...

whap edited 9 years ago Replies: 3 | Weight: -894 | Link [ - ]

Did a quick comparison of the 1h charts of XMR/BTC and BTC/USD (not 100% accurate but close), and the correlation is obvious, at least on the high swings. Monero definately has more fluctuations and lags a bit behind, but will follow BTC's overall direction if nothing changes fundamentally.

http://imgur.com/9hS3nZM

Reply to: whap
ladoga edited 9 years ago Weight: -882 | Link [ - ]

Posting your comparison graph in markup so we don't need to follow the link.

alt text

Reply to: whap
dnaleor edited 9 years ago Weight: -885 | Link [ - ]

nice chart whap! Indeed, lot of positive correlation. Let's hope it will also be the case when BTC goes back up ;)

Reply to: whap
Drhiggins edited 9 years ago Weight: -891 | Link [ - ]

To me this is good news.

Ultros edited 9 years ago Weight: -895 | Link [ - ]

Looking at past week charts, it seems clear that XMR is following BTC closely. It should go exponential when BTC's bottom is clearly found and traders can confidently invest some of the BTC profit they made during the capitulation.

Well at least I know I will. :)