Does AirSwap depend on Bitcoin? Based on the correlation analysis, BTC and AST have a moderate positive relationship. The correlation coefficient of their values is 0.32, which was computed based on the last 100-days' price dynamics of both coins.
This coefficient may range 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 indicates that the prices of the assets are moving in the contrary direction while the positive coefficient tells that the prices are moving in the identical direction. For example, if Bitcoin and AirSwap connection is positively strong, it means that when BTC is growing AST will grow as well. The negative strong relation will tell that when BTC is rising AST price will be in contrary decreasing.
The knowledge of the correlation coefficient helps to estimate in percentage the influence of Bitcoin over AirSwap. If we take all the things affecting the price of AST as 100%, then the share of BTC price among these factors will be 10.24%. The other part which is 89.76% covers all the other factors, such as media, technological releases or crypto related laws.