Sether (SETH)





Bitcoin and Sether Correlation

Does Sether depend on Bitcoin? Based on the correlation analysis, BTC and SETH have a very strong positive relationship. The correlation coefficient of their values is 0.89, which was computed based on the last 100-days' price movements 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 points that the prices of the assets are moving in the opposite direction while the positive coefficient tells that the prices are going in the same trend. For instance, if Bitcoin and Sether connection is positively strong, it means that when BTC is growing SETH will rise as well. The negative strong relation will tell that when BTC is rising SETH price will be in contrary lowering.

The knowledge of the correlation coefficient helps to determine in percentage the influence of Bitcoin over Sether. If we take all the factors affecting the price of SETH as 100%, then the share of BTC price among these factors will be 79.21%. The other part which is 20.79% covers all the other factors, such as news, technological releases or crypto related laws.