BCH Price

The decline in Bitcoin Cash price from early May continues. This decline has been closely mirrored by the Market Capitalization for the full duration of this interval. Over the shorter-term period of the last month, this correlation is still evident visually, suggesting the two parameters are responding to the same signal. Coin Telegraph notes that following an SEC decision against authorizing 9 proposed BTC ETFs on August 22, the market didn't react harshly as it has in the past to negative SEC rulings. They reason this suggests this was not a crucial assumption in strategies employed by purely speculative investors.This along with resilience to increased cryptocurrency restrictions in China is taken as a sign by Coin Telegraph that bears are diminishing in control. Bloomberg reports that the GTI VERA Convergence Divergence Indicator is signaling a trend reversal is possible for BTC price. This preceded a 39% increase over the next month the previous time this signal was detected...

BCH Price correlation to BTC price is .85 for the 90 days ending on Aug 2nd with a P-Value of less than .005, .05 and below being the metric frequently used in academic research to define statistical significance. Between May 29th and Aug 1st, the log return Pearson correlation between BCH and BTC grew. On May 29th, it was .753. Its correlation with Ripple also increased until July 26th, .79 at the start of this interval, though from Jun 26 to July 8th, that increase stagnated, after which, they both increased dramatically. After the 26th of July however, that increase began to reverse. BCH price daily standard deviation from July 3rd to close on August 2nd was 50.07 USD. The strongest non-crypto correlation is with VIX, at .17. The correlation with GLD is -.05, and -.03 and -.1 with TNX and SPX respectively. Ether has a P-Value of .6 with GLD. SC's P-Value with GLD is .78. Tied with Ripple, BTC is not the strongest correlation BCH price has amongst major tokens though it is t...