Similar Price Action Among Cryptocurrencies

less than 1 minute read

Basically for more than a year, I have noticed similar price action among altcoins and tokens with Bitcoin or Ethereum.

So today, I checked their weekly charts and compared which is the most similar and grouped them. Here’s what I found out.

btc xlm ltc ada xmr trx miota mkr icx nano dent snm mrk sig atl sdrn hero — they all have identical weekly price action.

eth xrp bch etc dash neo nem zcash lsk qtum bts doge dgb steem edg srn lun gup ixt bsd trst cat — This other group follows Ethereum price movements.

However not all coins exactly follow each other’s price action. The following coins have their own unique movements, but all generally dumped in the present bear market: eos bnb (xtz btg — slightly similar) vet (omg dcr bcn) zrx
ont zil gbyte rfr.

I don’t have time to check all 1,500+ currencies, but you get the picture.