BlockStamp (BST)





Bitcoin and BlockStamp Correlation

Does BlockStamp depend on Bitcoin? According to the correlation analysis, BTC and BST have no relationship. The correlation coefficient of their prices is 0.00, which was measured based on the last 100-days' price movements of both currencies.

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 shows that the prices of the coins are moving in the opposite direction while the positive coefficient means that the prices are moving in the same direction. For example, if Bitcoin and BlockStamp connection is positively strong, it means that when BTC is growing BST will rise as well. The negative strong relation will indicate that when BTC is growing BST value will be in opposite decreasing.

The knowledge of the correlation coefficient helps to estimate in percentage the influence of Bitcoin over BlockStamp. If we take all the aspects affecting the price of BST as 100%, then the share of BTC price among these factors will be 0.00%. The other part which is 100.00% covers all the other aspects, such as news, technological releases or crypto related laws.