Does Bitcoin Hush depend on Bitcoin? Based on the correlation analysis, BTC and BTCH have a very strong positive relationship. The correlation coefficient of their prices is 0.85, which was estimated based on the last 100-days' price fluctuations of both assets.
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 means that the prices of the cryptocurrencies are moving in the reversed trend while the positive coefficient indicates that the prices are moving in the same direction. For example, if Bitcoin and Bitcoin Hush connection is positively strong, it means that when BTC is rising BTCH will rise as well. The negative strong relation will tell that when BTC is rising BTCH value will be in opposite lowering.
The knowledge of the correlation coefficient helps to estimate in percentage the influence of Bitcoin over Bitcoin Hush. If we take all the aspects affecting the price of BTCH as 100%, then the share of BTC price among these factors will be 72.25%. The other part which is 27.75% covers all the other aspects, such as media, technological releases or regulations.