Does Paytomat depend on Bitcoin? According to the correlation analysis, BTC and PTI have no or negligible relationship. The correlation coefficient of their values is 0.15, which was measured based on the previous 100-days' price dynamics of both cryptocurrencies.
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 coins are going in the contrary trend while the positive coefficient indicates that the prices are moving in the identical trend. For instance, if Bitcoin and Paytomat connection is positively strong, it means that when BTC is growing PTI will rise as well. The negative strong relation will show that when BTC is growing PTI value will be in contrary lowering.
The knowledge of the correlation coefficient helps to determine in percentage the influence of Bitcoin over Paytomat. If we take all the factors affecting the price of PTI as 100%, then the share of BTC price among these factors will be 2.25%. The other part which is 97.75% covers all the other circumstances, such as media, technological releases or crypto related laws.