Does GameUnits depend on Bitcoin? According to the correlation analysis, BTC and UNITS have no or negligible relationship. The correlation coefficient of their values is -0.11, which was measured based on the last 100-days' price movements 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 indicates that the prices of the coins are moving in the opposite trend while the positive coefficient points that the prices are going in the identical direction. For instance, if Bitcoin and GameUnits connection is positively strong, it means that when BTC is rising UNITS will rise as well. The negative strong relation will indicate that when BTC is rising UNITS value will be in contrary lowering.
The knowledge of the correlation coefficient helps to calculate in percentage the influence of Bitcoin over GameUnits. If we take all the things affecting the price of UNITS as 100%, then the share of BTC price among these factors will be 1.21%. The other part which is 98.79% covers all the other aspects, such as news, events or crypto related laws.