Does Gastro Advisor Token depend on Bitcoin? According to the correlation analysis, BTC and FORK have a very strong positive relationship. The correlation coefficient of their prices is 0.91, which was calculated based on the previous 100-days' price dynamics of both coins.
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 shows that the prices of the currencies are going in the contrary direction while the positive coefficient means that the prices are going in the same trend. For instance, if Bitcoin and Gastro Advisor Token connection is positively strong, it means that when BTC is growing FORK will rise as well. The negative strong relation will tell that when BTC is growing FORK price will be in opposite lowering.
The knowledge of the correlation coefficient helps to estimate in percentage the influence of Bitcoin over Gastro Advisor Token. If we take all the factors affecting the price of FORK 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 things, such as news, events or regulations.