RATE Group | These Two Cryptocurrencies Pinpoint Where Bitcoin Is Headed Next
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These Two Cryptocurrencies Pinpoint Where Bitcoin Is Headed Next

23 Apr These Two Cryptocurrencies Pinpoint Where Bitcoin Is Headed Next

Posted at 20:36h in Cryptocurrency News by

Over the last few weeks, Zcash has been leading the corrections in Bitcoin’s price while XLM has been leading the run-ups.

Key Takeaways

  • Bitcoin shows high levels of correlation with the rest of the crypto market, but different altcoins nark different trends for BTC.
  • Zcash (ZEC), for instance, can be used to determine intermediate tops within the market.
  • Meanwhile, Stellar Lumens (XLM) has led the uptrend since the beginning of April suggesting that Bitcoin has more room to go up.

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A high correlation between Bitcoin and multiple altcoins is helping to determine where the flagship cryptocurrency is headed next.

A Highly Correlated Market

A glimpse at Coin360’s cryptocurrency map reveals what is obvious to many.

Whenever Bitcoin goes up, most altcoins in the market are also likely to surge. And, whenever the flagship cryptocurrency drops, the other cryptos follow suit.

Over the years, some of the most prominent figures in the industry have argued that the high levels of…

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