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    Top Five Altcoins with Negative Price Correlations to Bitcoin (BTC) in the Last Year

    It has almost become a norm in the cryptospace for altcoin price movements to follow the same direction with that of bitcoin (BTC), the world's flagship cryptocurrency.

    However, DataLight, a cryptocurrency analysis platform has carefully put together a list of the top five cryptos whose price rarely move in unison with bitcoin (BTC), according to a report published March 26, 2019.

    Though there are minor exceptions sometimes, the above statement holds for at least 90 percent of over 2,000 alternative cryptos presently on the market.

    Negative Price Correlations are Good for the Market

    Interestingly, some relatively small cap altcoins have consistently moved in an entirely different direction from where the price of king bitcoin is headed and this phenomenon is quite exciting indeed, as it gives investors an excellent opportunity to hedge their investments and reap huge profits, while also significantly reducing the risk of their portfolios.

    In the same vein, this exciting scenario also makes it possible for asset managers to significantly reduce volatility since they can easily offset wild price swings in some of their portfolio assets by betting on the digital assets moving in the opposite direction.

    Top Five Prodigal Sons of the Crypto Markets

    Per DataLight, the top five cryptoassets whose prices have consistently failed to rise and fall at the same time with the price of bitcoin, include Repocoin (REPO), DGTX (DGTX), Chainlink (LINK), Qubitica (QBIT), and Bitcoin Gold (BTG).

    Repocoin (REPO)

    Currently sitting at the 87th position on the CoinMarketCap top 100 cryptocurrency table, Repocoin (REPO) is a Stellar (XLM) based altcoin that is specifically created to reward users for reporting vehicles that have been tagged for repossession.

    Reportedly, once a REPO user scans the license plate of a car that is liable for repossession, the token holder gets rewarded with REPO token if the vehicle in question is recovered successfully.

    Accordingly, the price of REPO has reportedly surged in Q1 2019, generating a whopping 63 percent negative price correlation with bitcoin, year-to-date.

    DGTX

    DGTX, the native altcoin of Digitex Futures, a non-custodial, commission-free cryptocurrency exchange, has seen significant negative price correlation with bitcoin due to the enormous interest it has garnered so far from users of the exchange.

    DGTX allows traders on the Digitex Futures cryptocurrency exchange to save cost on trading fees, just like on other exchanges such as Binance.

    At press time, the price of DGTX sits a $0.086, with a market capitalization of $63.57 million.

    Chainlink (LINK)

    LINK is the native cryptocurrency of Chainlink, a distributed ledger technology (DLT) project focused on connecting users' smart contracts to real-world data events and payments.

    Unlike bitcoin, LINK has held its own against the bear market trend since 2018, as its price is mostly decoupled from the price of bitcoin.

    Qubitica (QBIT)

    Qubitica (QBIT) has a 30 percent negative correlation with the price of bitcoin and it has reportedly generated a 550 percent increase since its launch in 2018.

    Qubitica claims to be a community of blockchain technology and artificial intelligence (AI) experts building and investing in the products of the future.

    According to DataLight, more than 98 percent of the total trading volume of QBIT comes from a little-known exchange called P2PB2B.

    Bitcoin Gold

    Bitcoin Gold has also shown significant negative price correlation with bitcoin in the past year, performing even worse than BTC, due to the numerous controversies and challenges that have plagued the project.

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    Ogwu Emma
    Ogwu Emma
    Ogwu Osaemezu Emmanuel is a blockchain analyst with several years of experience in the cryptospace. He writes regularly for several leading cryptocurrency platforms

    [Alert] Use the author's self-conducted information at your own risk, do you own research, never invest more than you are willing to lose.

    [Disclosure] The published news and content on BitcoinExchangeGuide should never be used or taken as financial investment advice. Understand trading cryptocurrencies is a very high-risk activity which can result in significant losses. Editorial Policy \\ Investment Disclaimer

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