What are Bitcoin’s opposite currencies? Introducing 5 currencies that are not dependent on bitcoin

Bitcoin may be a familiar name in the world of digital currencies, but this is not the whole story. There are other digital currencies that, with their own technologies, independent of Bitcoin, are forming the future of the crypto market. These currencies target challenges such as the speed of transactions, scalability and privacy. Their goals and programs have made them opposed to bitcoin and take a different trend. Join us to get acquainted with Bitcoin opposition currencies.

What is Bitcoin Solidarity?

Bitcoin correlation means bitcoin’s relationship or relationship with other assets or markets. In this context, correlation can be positive or negative in two ways:

• Positive correlation: It is time when the price of bitcoin and one asset move similar or in the same way. In other words, as bitcoin prices rise, asset prices or other markets rise, and vice versa. This type of solidarity may be due to similar factors such as economic news or global events.
• Negative correlation: When the price of bitcoin and other assets move in opposition. That is, when bitcoin prices rise, the price of the asset declines and vice versa. This type of solidarity may be due to economic factors or specific policies that have the impact on different markets.

Read more: What is Bitcoin Solidarity?

The behavior of the penis against bitcoin

In the digital currency market, most penis usually follow bitcoin prices. This means that when bitcoin prices rise, many penis also rise and vice versa. However, some penis do not follow this pattern and are referred to as Bitcoin opposition currencies. In short:

• When bitcoin risesThese penis may decrease.
• When bitcoin fallsThese penis may increase.

This particular behavior gives the penis a unique opportunity to act as a tool for risk management. For example, if bitcoin prices drop, the foam of the penis that have negative correlation may rise and vice versa.

Bitcoin opposite currencies

Although Bitcoin as the leader of the digital currency market has a significant impact on the behavior of the penis, there are some other currencies that act contrary to bitcoin. This behavior can be temporary or even long -term. The list of 2 currencies against Bitcoin is as follows:

• Ethereum
• Solana
• Dodge Quinn
• Tone Kevin
• Baynens Kevin
• Mim Quinn

Ethereum

In general, when bitcoin prices rise, the price of many penis will usually rise, but Ethereum may show the pattern under certain circumstances and its trend is contrary to bitcoin.

One of the factors that can lead to a negative correlation between bitcoin and ethereum is the fundamental differences in the use and technology of the two. Bitcoin is mainly known as a value storage asset; While Ethereum is a platform for smart contracts and decentralized applications (DAPPS). These functional differences can cause each of these currencies to move differently in response to different market news and events.

Read more: Ethereum Future | Forecasting Ether Price by Year 2

In recent years, Ethereum has experienced almost a similar process of bitcoin, and at the same time with bitcoin movements, it was experiencing similar price fluctuations. However, just take a look at the chart below to find out that the process of these two currencies has been partially separated since November 1. Although Bitcoin has recorded new price ceilings, Ethereum (red chart) remains in a downturn.

Solana

Under normal circumstances, Solana, like many penis, follows the bitcoin price trend. But in some cases, especially when Solana is affected by specific factors such as technology advances, network updates, or increased acceptance, this currency may have a different performance than bitcoin.

The negative correlation between bitcoin and Solana is not heavily correlation with bitcoin, but in some cases Solana has opposed bitcoin. In the picture below you can see the behavior of these two currencies together. Solana has separated her way from Bitcoin on November 1 and has been separated from the rise of this digital currency. It has also experienced more in market falls than bitcoin.

Read more: Forecasting of the future of Solana by year 2

Finally, the negative correlation between Solana and Bitcoin allows investors to apply risk management strategies in different market conditions.

Dodge Quinn

DOGE as one of the famous penis, sometimes shown negative correlation with Bitcoin (BTC); That is, the price behavior of these two currencies moves in the opposite directions.

DOGE is heavily influenced by users’ community and social media activities. Advertising of celebrities such as Ilan Musk or social currents can lead to the growth or decline of the Dodge Quinn; While bitcoin is mostly influenced by macroeconomic factors such as interest rates and organizational acceptance. This difference in price stimuli can lead to negative correlation in some periods.

Read more: What are Ilan Musk’s currencies? Introducing Ilan Mask’s currencies

In the diagram you can see the performance of Dodge Quinn (red diagram) in front of bitcoin. As you can see, DOGE has been opposed to bitcoin. For example, at the time of market fall, the power of bitcoin recovery was greater; While the Dodge Quinn has been in a longer period of time in the recession. Dodge has also shown poor performance in the recapture of the price ceiling.

Tone Kevin

Tone Quinn’s and Bitcoin (BTC) price behavior in the digital currency market and in the past few months often indicates a negative correlation. That is to say, rising prices can lead to another price reduction. In the picture below, you can see that the prices of Bitcoin and Tune Quinn were quite close to the beginning of the year. But since April 1, these two currencies have shown different behaviors; So their path is completely separated.

This price behavior can be influenced by investment currents. When investors decide to move their capital between different currencies, they may move their capital between Tunne Kevin and Bitcoin. These displacements have made Tunne Kevin a downtrend and the price movement of the currency is against Bitcoin.

Read more: The best of your network tokens

Finally, the historical data of the prices of these two currencies show that their price behavior is constantly changing. In some periods, a stronger negative correlation between prices may be observed; However, at other times, this correlation may become weaker.

Baynens Kevin

The negative correlation of the Benns Quinn (BNB) with Bitcoin (BTC) is less than other currencies we introduced in this article. Price data on the chart show that when bitcoin fluctuates on the long -term floor, ie, $ 6,000 to $ 6,000, Binhenns Kevin (red chart) has fluctuated; Even in a specific period, the new price has gone and has taken a process opposed to Bitcoin.

At certain times, Binns Quinn and Bitcoin may have more negative correlation. For example, if the Binance Exchange makes a positive declaration about the development of its infrastructure or token border programs, BNB may experience price increases; Even if bitcoin is under pressure at the same time. This situation reflects the independent role of BNB in ​​the market, which stems from the performance of the binocol and domestic demand for this token.

Mim Quinn

Bitcoin’s negative correlation with Mim Quinn is often due to the special and unpredictable nature of these digital currencies. Unlike Bitcoin, which acts as a more basic and prestigious asset in the market, the Mim Quinn depends heavily on the social trends, the behavior of the fans, and the support of celebrities. This dependency can make the Mim Quinn perform positively when bitcoin is declining.

For example, in the descending markets where bitcoin and many original digital currencies face prices, Mim Quinn, such as Dodge Dodge and Shiba Ino, sometimes because of advertising on social media or the support of people like Ilan Musk They experience significant growth. This behavior is due to the cultural and psychological appeal of the Mim Quinn, which, instead of the fundamental principles of the market, rely more on the emotions and behaviors of society.

Read more: What will be the future of Shiba?

Other examples include Mim Quinn such as PEPE and Floki Inu, which in some stages have been able to increase significant prices under adverse market conditions. This phenomenon shows that Mim Quinn can be a unique opportunity for investors who are looking for assets with different and independent -independent behavior. It should be noted, however, that these behaviors can be very risky and unstable.

Frequently asked questions

Conclusion

In this article, four digital currencies were introduced, each of which is independent of bitcoin and has unique facilities and goals. These currencies show that the world of digital currencies is much broader than bitcoin, and each of these currencies can play important roles in different parts of this ecosystem. They not only provide a variety of investment options; Rather, they create new potentials for China’s blockchain technologies and its applications in everyday life.

However, like any other investment, research and awareness of the risks and benefits of any pre -investment digital currency is essential.