CryptoHodl to Help Look and Analyze the Correlation of Cryptocurrencies Prices & Rate Change Comparisons
Cryptocurrencies do not have any fundamental path-breaking tech updates but the prices of these coins still move. The movement in prices is based on the supply and demand. Supply is affected by cryptocurrency mining while increased demand is affected by crypto awareness and media attention. If the prices of these coins are based on these two factors then there have to be a pattern between the crypto coins.
For the past year, there has been a lingering curiosity among cryptocurrencies observers that the price movement of virtual coins is highly correlated during large swings.
According to CryptoHodl, all crypto coins prices are correlated to a certain extent and investors often wonder what happens to say Ripple when Litecoin is rising. For instance, one coin should be rising as often as compared to another. The cryptocurrencies have patterns that can be seen and this is the pattern CryptoHodl seeks to find out.
CryptoHodl allows users to compare the price correlation of different cryptos. The platform also allows for the comparison of the price movement between two cryptocurrencies in a single glance. This allows investors to have more clarity and less doubt in every investment decision. With CryptoHodl, it becomes easier to understand the bigger picture and to make better investment decisions.
The platform also allows investors to note every correlated fall and gain. History does repeat itself when it comes to crypto coins. With CryptoHodl, investors can correlate the gain and fall between two cryptos in one glance and assess not just when but with how much history might repeat itself.
CryptoHodl is a new platform that looks at the correlation between cryptocurrencies. It looks at patterns that can be seen and allow investors to decide whether to sell or hodl their coins. The platform also looks at the movements of different cryptocurrencies at different times in history and predicts what would happen if history was to repeat itself.