Litestar Coin (LTS)





Bitcoin and Litestar Coin Correlation

Does Litestar Coin depend on Bitcoin? According to the correlation analysis, BTC and LTS have a very strong positive relationship. The correlation coefficient of their prices is 0.91, which was measured based on the last 100-days' price movements of both coins.

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 shows that the prices of the coins are moving in the opposite direction while the positive coefficient points that the prices are going in the identical trend. For instance, if Bitcoin and Litestar Coin connection is positively strong, it means that when BTC is rising LTS will grow as well. The negative strong relation will point that when BTC is growing LTS value will be in contrary lowering.

The knowledge of the correlation coefficient helps to estimate in percentage the influence of Bitcoin over Litestar Coin. If we take all the circumstances affecting the price of LTS 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 circumstances, such as media, events or regulations.