From 2018 to 2019, the average correlation coefficient across the top 200 cryptocurrencies by market cap decreased from 0.89 to 0.58. We applied a one-tailed Welch's T-test and found the decrease to be statistically significant.
Bitcoin’s price shot from ~$4,100 to ~$5,000 (+22%) in the span of 48 hours. Trading volumes spiked across top exchanges. Bitmex reported ~$9 billion in trading volume across BTC/USD in the last 48H.
If you look at today’s headlines about Elon Musk, you won’t find stories about his heroics. Instead you find the picture of a frantic man lashing out at critics on Twitter.
After running 100,000 Monte Carlo simulations, the median total market cap by Dec. 31, 2018 was a predicted $69 billion. This is 71% down from today.
After analyzing 2 years of historical data from Coinmarketcap, we found that 75% of the top 200 coins by market cap have a correlation of 0.67 or higher.
Both the days with the biggest market losses, along with the days with the biggest market gains saw a higher # of HODL comments on average.