Does AIT Token depend on Bitcoin? Based on the correlation analysis, BTC and AIT have a strong positive relationship. The correlation coefficient of their prices is 0.61, which was measured based on the last 100-days' price dynamics of both currencies.
This coefficient may adjust 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 shows that the prices of the coins are moving in the contrary direction while the positive coefficient means that the prices are going in the identical trend. For instance, if Bitcoin and AIT Token connection is positively strong, it means that when BTC is rising AIT will grow as well. The negative strong relation will tell that when BTC is growing AIT value will be in contrary lowering.
The knowledge of the correlation coefficient helps to calculate in percentage the influence of Bitcoin over AIT Token. If we take all the things affecting the price of AIT as 100%, then the share of BTC price among these factors will be 37.21%. The other part which is 62.79% covers all the other things, such as news, events or regulations.