Rentberry (BERRY)





Bitcoin and Rentberry Correlation

Does Rentberry depend on Bitcoin? Based on the correlation analysis, BTC and BERRY have a moderate positive relationship. The correlation coefficient of their prices is 0.30, which was measured based on the last 100-days' price dynamics of both coins.

This coefficient may adjust 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 contrary direction while the positive coefficient shows that the prices are moving in the same direction. For instance, if Bitcoin and Rentberry connection is positively strong, it means that when BTC is growing BERRY will rise as well. The negative strong relation will indicate that when BTC is rising BERRY value will be in contrary lowering.

The knowledge of the correlation coefficient helps to determine in percentage the influence of Bitcoin over Rentberry. If we take all the things affecting the price of BERRY as 100%, then the share of BTC price among these factors will be 9.00%. The other part which is 91.00% covers all the other aspects, such as media, technological releases or crypto related laws.