Bitcoin and MEET.ONE Correlation

Does MEET.ONE depend on Bitcoin? According to the correlation analysis, BTC and MEETONE have a strong positive relationship. The correlation coefficient of their values is 0.68, 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 points that the prices of the currencies are going in the contrary direction while the positive coefficient points that the prices are going in the identical direction. For example, if Bitcoin and MEET.ONE connection is positively strong, it means that when BTC is growing MEETONE will rise as well. The negative strong relation will tell that when BTC is rising MEETONE price will be in opposite lowering.

The knowledge of the correlation coefficient helps to figure out in percentage the influence of Bitcoin over MEET.ONE. If we take all the circumstances affecting the price of MEETONE as 100%, then the share of BTC price among these factors will be 46.24%. The other part which is 53.76% covers all the other aspects, such as media, technological releases or politics.