Bitcoin: Core, Cash and Gold Correlations
BTC - Yellow
BCH - Green
BTG - Pink
Since BTG was created it has been highly correlated to BCH.
Since B2X fork was canceled both BCH and BTG have shown similar negative correlations to BTC. Both BCH and BTG prove to be strong BTC hedges.
Dec. 18 - BCH shows significantly stronger negative correlation to BTC compared to BTG. This leads me to believe that BCH is the optimal BTC hedge.
Important note: Last post i outlined the 0.24 BCHBTC resistance line since the BCH fork.
BCH has not been able to sustain this level and tends the BCHBTG level goes down to go down a significant amount. If reinvesting or beginning to invest in BCH, watch the BCHBTC price.
The current 0.24 BCHBTC price is a good level on to at least some BCH profits off the table or into other coins.
BCH - Green
BTG - Pink
Since BTG was created it has been highly correlated to BCH.
Since B2X fork was canceled both BCH and BTG have shown similar negative correlations to BTC. Both BCH and BTG prove to be strong BTC hedges.
Dec. 18 - BCH shows significantly stronger negative correlation to BTC compared to BTG. This leads me to believe that BCH is the optimal BTC hedge.
Important note: Last post i outlined the 0.24 BCHBTC resistance line since the BCH fork.
BCH has not been able to sustain this level and tends the BCHBTG level goes down to go down a significant amount. If reinvesting or beginning to invest in BCH, watch the BCHBTC price.
The current 0.24 BCHBTC price is a good level on to at least some BCH profits off the table or into other coins.
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