Bitcoin has always been a king in the crypto market such that when it pumps other token experience a pump and when it dumps other token experience a dump. This article covers an analysis between bitcoin and atom token in terms of price and relationship.
Objectives Of The Study
In the course of this article, I shall tend to cover the following;
Price of Bitcoin by Atom
View modes of price of both tokens (Data and variable )
Maximum and minimum price of Bitcoin And Atom Token
Correlation analysis between Bitcoin and Atom Token
Conclusion
Price of Bitcoin by Atom
The price of bitcoin by atom is an image showing the graph of price chart between both tokens. This has helped a lot to visualize if as the price of bitcoin climbs, the price of atom does same thing.
Note in this article cosmos hub refers to atom token.
From the graph above we can visualized that there is a weak kind of perfect relationship between both tokens.
However, we shall come to understand this better under the analysis of correlation.
View modes of price of both tokens (Data and Variable )
The variable and data view mode of both tokens is been presented in this sub section.
Variable view mode
The variable view mode will allowed me to enter variables called date, price of bitcoin and that of cosmos hub or atom.
Note both cosmos hub and atom token are same thing, you can see it on coin gecko.
Data view mode
Data view mode aids to enter in the data to fill the variable column. Data view mode aids to input the price of both tokens. As seen below the price of bitcoin was gotten from coingecko.com and imputed in SPSS along side with that of Atom.
Maximum and minimum price of Bitcoin And Atom Token
This subsection presents the maximum and minimum price of both tokens for the stated above period.
The maximum price of bitcoin token for that period is $31522.65 and its minimum price is $18512.90.
The maximum price of Atom for that period is $9.71 and its minimum price is $5.88 for that period of time. Token
Correlation analysis between Bitcoin and Atom
In this subsection , analysis of correlation between the price of bitcoin and that of atom was analyzed. However its found that there is a positive relationship between both tokens but its of the weak type. With coefficient of (r = 0.379).
However , we can say the price of bitcoin doesn’t has a high positive influence on atom.
Conclusion
This article has been able to analyze the price statistics from coingecko.com. it has also been able to present the plot of both token prices which indicate a rough and weak type of linkage. After that I proceeded to carrying out a minimum and maximum test which is also presented and lastly the analysis of correlation was carried out which indicates a weak relationship.