According to the correlation analysis, BTC and LUNA have no or negligible relationship.
The correlation coefficient of their values is -0.04, which was calculated based on the previous 100-days' price dynamics of both currencies.
This coefficient may change from -1 to 1, where -1 is the strongest negative correlation, 0 is no correlation at all and 1 is the strongest positive correlation.
The negative coefficient points that the prices of the currencies are going in the contrary direction while the positive coefficient points that the prices are moving in the same direction.
However, according to current Fibonacci Retracement 'pattern.' Bitcoin and Terra connection is positively strong, it means that when BTC is rising LUNA will rise as well.
Do not forget the historical wise saying, "Never invest more than you can afford to lose."
Not a financial advise, I suggest using this only as a guide - Do your own research.
If you have any questions, kindly write in comments below - I will answer them.
Kindly support this idea with your like and comment, thank you.
The correlation coefficient of their values is -0.04, which was calculated based on the previous 100-days' price dynamics of both currencies.
This coefficient may change from -1 to 1, where -1 is the strongest negative correlation, 0 is no correlation at all and 1 is the strongest positive correlation.
The negative coefficient points that the prices of the currencies are going in the contrary direction while the positive coefficient points that the prices are moving in the same direction.
However, according to current Fibonacci Retracement 'pattern.' Bitcoin and Terra connection is positively strong, it means that when BTC is rising LUNA will rise as well.
Do not forget the historical wise saying, "Never invest more than you can afford to lose."
Not a financial advise, I suggest using this only as a guide - Do your own research.
If you have any questions, kindly write in comments below - I will answer them.
Kindly support this idea with your like and comment, thank you.