Does Anti Bitcoin depend on Bitcoin? According to the correlation analysis, BTC and ANTI have a weak positive relationship. The correlation coefficient of their values is 0.20, which was measured based on the previous 100-days' price dynamics of both assets.
This coefficient may change 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 tells that the prices of the coins are going in the contrary trend while the positive coefficient means that the prices are going in the same trend. For instance, if Bitcoin and Anti Bitcoin connection is positively strong, it means that when BTC is rising ANTI will grow as well. The negative strong relation will show that when BTC is growing ANTI value will be in opposite lowering.
The knowledge of the correlation coefficient helps to figure out in percentage the influence of Bitcoin over Anti Bitcoin. If we take all the aspects affecting the price of ANTI as 100%, then the share of BTC price among these factors will be 4.00%. The other part which is 96.00% covers all the other aspects, such as media, events or crypto related laws.