Here's What Really Drives Ethereum's Price, According To Bitwise

Benzinga and Yahoo Finance LLC may earn commission or revenue on some items through the links below. Ethereum’s price is largely driven by Bitcoin’s moves, according to Bitwise. Bitcoin’s moves explain 65% of Ethereum’s weekly price movements, Bitwise Senior Research Associate Max Shanon said in a March 17 report based on a modeling of Ethereum’s price action since May 2018. Shanon said Bitwise found that Ethereum had a 0.99 correlation coefficient with Bitcoin, meaning the assets more or less moved in ...