Does Motocoin depend on Bitcoin? According to the correlation analysis, BTC and MOTO have no relationship. The correlation coefficient of their prices is 0.00, which was calculated based on the last 100-days' price dynamics 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 means that the prices of the currencies are moving in the contrary direction while the positive coefficient tells that the prices are going in the same trend. For instance, if Bitcoin and Motocoin connection is positively strong, it means that when BTC is growing MOTO will rise as well. The negative strong relation will point that when BTC is rising MOTO price will be in opposite lowering.
The knowledge of the correlation coefficient helps to determine in percentage the influence of Bitcoin over Motocoin. If we take all the things affecting the price of MOTO as 100%, then the share of BTC price among these factors will be 0.00%. The other part which is 100.00% covers all the other aspects, such as news, technological releases or regulations.