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Boats and Bitches (BNB*)

Correlation

0.91

Influence

82.81%

Bitcoin and Boats and Bitches Correlation

Does Boats and Bitches depend on Bitcoin? Based on the correlation analysis, BTC and BNB* have a very strong positive relationship. The correlation coefficient of their values is 0.91, which was estimated based on the last 100-days' price dynamics of both coins.

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 tells that the prices of the cryptocurrencies are moving in the contrary direction while the positive coefficient points that the prices are going in the same direction. For instance, if Bitcoin and Boats and Bitches connection is positively strong, it means that when BTC is rising BNB* will grow as well. The negative strong relation will show that when BTC is growing BNB* value will be in contrary lowering.

The knowledge of the correlation coefficient helps to calculate in percentage the influence of Bitcoin over Boats and Bitches. If we take all the aspects affecting the price of BNB* as 100%, then the share of BTC price among these factors will be 82.81%. The other part which is 17.19% covers all the other circumstances, such as news, events or politics.