Crypto Multiple Token Analysis Bitcoin, Binance And Avalanche (BTC, BNB vs AVAX) June 4 – July12th, 2022

I stumbled upon something in the crypto market if there is any prove of relationship and between bitcoin, binance and avax token.

In my previous post as regards avax and binance shows a high positive relationship between both tokens.

https://hive.blog/hive-167922/@iniobong3emm/crypto-market-analysis

This article will examine if bitcoin has a degree of influence on the price of avax and binance.

Objectives Of The Study
During the course of this study, the following shall be treated.

1D box plot of bitcoin’s price.

1D box plot of binance price.

1D box plot of Avax price.

Frequency polygon of price of avax by date of collection.

Frequency polygon mean price of bitcoin by date of collection.

Frequency polygon of price of avax token and that of bitcoin.

View modes of price of all tokens (data and variable )

Maximum and minimum price of bitcoin, binance and avax.

Correlation analysis between bitcoin, binance and Avax. (Partial correlation)

Conclusion.

1D box plot of bitcoin’s price.
1D box plot is essential to measure how spread the price of bitcoin is. From a descriptive perspective, it can be seen that the price of bitcoin from a minimum view spread across $18,000 to $20,000 and for maximum, it was spreaded across $30,000 to $32,000.
The image of 1D box plot of bitcoin’s price can be seen below.

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1D Box plot view of binance and avax token was presented in my former post, you can click the link below to access the statistics of 1D box plot of both tokens.

Frequency polygon of price of avax by date of collection.

The image below shows the mean frequency distribution of avax token price and date. It can be seen that the highest price of avax token fell in between June 5 – June 7th, 2022.

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Frequency polygon mean price of bitcoin by date of collection

The diagram below shows the frequency polygon of bitcoin mean price. It can also be seen within the period of June 5 to June 7th, 2022.

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The price of bitcoin attained a height of $30,000 and above.

With the coincidence of date in high price, I asked if there was something special within the duration of stated day.
What do you think? You can as well drop your comments.

Frequency polygon of price of avax token and that of bitcoin

It can be seen from the image below that the graph of bitcoin and avax token has a certain degree of relationship because as the price of bitcoin pumps, that of avax did same as well. The image can be seen below.

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View modes of price of all tokens (data and variable )

The variable and data view mode are presented in this subsection. The variable view mode will allow you to key in the variables such as the price of bitcoin, binance and avax. It can be seen below.

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The data view mode enable entering of the prices of the tokens listed above. It can be seen below.

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Maximum and minimum price of bitcoin, binance and avax

The image below is an indication of highest and lowest prices of bitcoin, binance token and that of avax for the stated period above.

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The maximum price of bitcoin token for that period was 31522.65 and its minimum price was $18512.90.

The maximum price of binance token for that period was $309.51 and its minimum price was $192.58.

The maximum price of avax token for that period was $27.36 and its minimum price is $14.33.

Correlation analysis between bitcoin, binance and Avax. (Partial correlation)

The kind of relationship test to be carried out is partial correlation.
What is partial correlation?
It is a test to prove the type of relationship between multiple variable with a controlling factor.

The controlling factor here is the price of bitcoin token. I will like to prove if bitcoin has an influence on the price of binance and avax.

Result of correlation
The result of correlation analysis has proven that bitcoin has a positive influence on the price of binance and avax. With a correlation coefficient of (r = 0.764)

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We can conclude that as the price of bitcoin pumps it will be effective on the pumping of binance and avax token and vice versa. This will occur at similar rate will a small difference in rate.

Conclusion
This article has been able to explore in graphical view, the price illustration of bitcoin, binance and avax token. It also presented the correlation analysis report of the listed tokens.
I really appreciate your time and energy installed into reading this article. Thanks a million.