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Monero ties to Bitcoin?

The price of monero appears to be developing a closer relationship with bitcoin, the world's largest digital currency.

Over the last six weeks, the two cryptocurrencies have displayed a correlation of 0.89, though it recent days this figure has edged higher.

The pair enjoyed a tight correlation of 0.96 on 18th January, a time during which monero prices plunged roughly 10% as the privacy-oriented digital currency followed a drop in bitcoin prices.

The price of monero fell to as little as $11.50, 9.9% below the daily high of $12.76 reached at 01:15 UTC.

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