Does Darknet depend on Bitcoin? According to the correlation analysis, BTC and DNET have a very strong positive relationship. The correlation coefficient of their prices is 0.91, which was measured based on the previous 100-days' price dynamics of both currencies.
This coefficient may vary 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 going in the contrary direction while the positive coefficient points that the prices are moving in the identical direction. For example, if Bitcoin and Darknet connection is positively strong, it means that when BTC is growing DNET will rise as well. The negative strong relation will show that when BTC is growing DNET value will be in opposite lowering.
The knowledge of the correlation coefficient helps to figure out in percentage the influence of Bitcoin over Darknet. If we take all the aspects affecting the price of DNET 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 aspects, such as media, technological releases or regulations.