RIF Token (RIF)





Bitcoin and RIF Token Correlation

Does RIF Token depend on Bitcoin? According to the correlation analysis, BTC and RIF have a strong positive relationship. The correlation coefficient of their prices is 0.44, which was calculated based on the previous 100-days' price dynamics of both currencies.

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 going in the contrary direction while the positive coefficient indicates that the prices are moving in the identical trend. For example, if Bitcoin and RIF Token connection is positively strong, it means that when BTC is rising RIF will grow as well. The negative strong relation will indicate that when BTC is growing RIF price will be in opposite decreasing.

The knowledge of the correlation coefficient helps to estimate in percentage the influence of Bitcoin over RIF Token. If we take all the aspects affecting the price of RIF as 100%, then the share of BTC price among these factors will be 19.36%. The other part which is 80.64% covers all the other things, such as media, events or crypto related laws.