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Presearch (PRE*)

Correlation

-0.72

Influence

51.84%

Bitcoin and Presearch Correlation

Does Presearch depend on Bitcoin? Based on the correlation analysis, BTC and PRE* have a very strong negative relationship. The correlation coefficient of their prices is -0.72, which was calculated based on the last 100-days' price fluctuations of both cryptocurrencies.

This coefficient may range 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 reversed trend while the positive coefficient tells that the prices are going in the identical trend. For instance, if Bitcoin and Presearch connection is positively strong, it means that when BTC is growing PRE* will grow as well. The negative strong relation will indicate that when BTC is rising PRE* price will be in contrary lowering.

The knowledge of the correlation coefficient helps to figure out in percentage the influence of Bitcoin over Presearch. If we take all the aspects affecting the price of PRE* as 100%, then the share of BTC price among these factors will be 51.84%. The other part which is 48.16% covers all the other circumstances, such as media, technological releases or regulations.