Does Infinity Economics depend on Bitcoin? According to the correlation analysis, BTC and XIN have a very strong positive relationship. The correlation coefficient of their prices is 0.89, which was measured based on the previous 100-days' price movements 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 means that the prices of the coins are going in the opposite direction while the positive coefficient indicates that the prices are moving in the identical direction. For example, if Bitcoin and Infinity Economics connection is positively strong, it means that when BTC is growing XIN will grow as well. The negative strong relation will point that when BTC is growing XIN value will be in contrary decreasing.
The knowledge of the correlation coefficient helps to determine in percentage the influence of Bitcoin over Infinity Economics. If we take all the factors affecting the price of XIN as 100%, then the share of BTC price among these factors will be 79.21%. The other part which is 20.79% covers all the other circumstances, such as news, technological releases or crypto related laws.