Does Scry.info depend on Bitcoin? According to the correlation analysis, BTC and DDD have a very strong positive relationship. The correlation coefficient of their values is 0.77, which was calculated based on the previous 100-days' price movements of both coins.
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 currencies are going in the opposite direction while the positive coefficient shows that the prices are going in the identical trend. For instance, if Bitcoin and Scry.info connection is positively strong, it means that when BTC is rising DDD will rise as well. The negative strong relation will indicate that when BTC is growing DDD price will be in contrary lowering.
The knowledge of the correlation coefficient helps to figure out in percentage the influence of Bitcoin over Scry.info. If we take all the factors affecting the price of DDD as 100%, then the share of BTC price among these factors will be 59.29%. The other part which is 40.71% covers all the other things, such as media, events or crypto related laws.