This is an analysis of BITCOIN and ETHEREUM price of recent dated June – October using SPSS software.
In this content, I will be considering the following subheading.
Correlation analysis result of BITCOIN and ETHEREUM
Scatter dot diagram showing both prices.
Maximum and Minimum values of both crypto prices.
Conclusion.
Other Images
Correlation analysis result of BITCOIN and ETHEREUM
The result of correlation analysis between BITCOIN and ETHEREUM price is seen below.
However with a correlation coefficient of 0.135 and a significance value of 0.10 indicates that there is a low level of positive relationship but it is a weak one.
Positive relationship indicates that as the price of BITCOIN experiences a pumps , the price of ETH will experience same at similar rate.
I can remember the relationship between BTC and ETH I have carried long ago use to be positive and strong but because of the recent happenings in the crypto market currently it is positive and weak.
We cannot really conclude that as the price of BTC pumps that of ETH will pump too and vice versa.
More details of this relationship can be viewed in the scatter diagram below.
Scatter dot diagram showing both prices
This is a scatter diagram showing prices of BITCOIN and ETHEREUM.
When the diagonal line passes through the point of intersection, the relationship is said to be strong and positive. Meaning as the price of BTC pumps that of ETH must surely pump. But right now the line is so low to indicate that which tells us a weak relationship significantly different from a previous analysis between BTC and ETH exist.
Maximum and Minimum values of both crypto prices
The maximum and minimum value of both crypto assets can be seen in the table below.
Conclusion
There exist a positive relationship between the price of BTC and that of ETH but at a weaker level. So we can conclude that increment in the price of BTC doesn’t really affect that of ETH.
Other images includes
Data view
Variable view
