Ethereum Dark (ETHD)





Bitcoin and Ethereum Dark Correlation

Does Ethereum Dark depend on Bitcoin? According to the correlation analysis, BTC and ETHD 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 cryptocurrencies.

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 means that the prices of the coins are going in the contrary trend while the positive coefficient means that the prices are moving in the same trend. For example, if Bitcoin and Ethereum Dark connection is positively strong, it means that when BTC is growing ETHD will grow as well. The negative strong relation will show that when BTC is rising ETHD value will be in contrary lowering.

The knowledge of the correlation coefficient helps to calculate in percentage the influence of Bitcoin over Ethereum Dark. If we take all the factors affecting the price of ETHD 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 politics.