Does Experience Token depend on Bitcoin? According to the correlation analysis, BTC and EXT* have no or negligible relationship. The correlation coefficient of their values is -0.17, which was computed based on the last 100-days' price fluctuations of both assets.
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 points that the prices of the assets are moving in the reversed trend while the positive coefficient points that the prices are going in the same direction. For instance, if Bitcoin and Experience Token connection is positively strong, it means that when BTC is growing EXT* will rise as well. The negative strong relation will show that when BTC is growing EXT* price will be in contrary decreasing.
The knowledge of the correlation coefficient helps to calculate in percentage the influence of Bitcoin over Experience Token. If we take all the things affecting the price of EXT* as 100%, then the share of BTC price among these factors will be 2.89%. The other part which is 97.11% covers all the other factors, such as media, events or politics.