Does Safe Trade Coin depend on Bitcoin? According to the correlation analysis, BTC and XSTC have no relationship. The correlation coefficient of their values is 0.00, which was measured based on the last 100-days' price dynamics of both cryptocurrencies.
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 tells that the prices of the coins are moving in the contrary trend while the positive coefficient means that the prices are going in the same trend. For example, if Bitcoin and Safe Trade Coin connection is positively strong, it means that when BTC is rising XSTC will rise as well. The negative strong relation will tell that when BTC is growing XSTC price will be in opposite decreasing.
The knowledge of the correlation coefficient helps to calculate in percentage the influence of Bitcoin over Safe Trade Coin. If we take all the things affecting the price of XSTC 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 circumstances, such as news, technological releases or crypto related laws.