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LBRY Credits (LBC)

Correlation

0.79

Influence

62.41%

Bitcoin and LBRY Credits Correlation

Does LBRY Credits depend on Bitcoin? According to the correlation analysis, BTC and LBC have a very strong positive relationship. The correlation coefficient of their values is 0.79, which was estimated based on the previous 100-days' price fluctuations 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 points that the prices of the cryptocurrencies are going in the reversed direction while the positive coefficient indicates that the prices are moving in the identical trend. For instance, if Bitcoin and LBRY Credits connection is positively strong, it means that when BTC is growing LBC will grow as well. The negative strong relation will indicate that when BTC is rising LBC price will be in contrary lowering.

The knowledge of the correlation coefficient helps to compute in percentage the influence of Bitcoin over LBRY Credits. If we take all the aspects affecting the price of LBC as 100%, then the share of BTC price among these factors will be 62.41%. The other part which is 37.59% covers all the other things, such as news, events or crypto related laws.