StreamSpace (SSH)





Bitcoin and StreamSpace Correlation

Does StreamSpace depend on Bitcoin? According to the correlation analysis, BTC and SSH have a very strong positive relationship. The correlation coefficient of their prices is 0.91, which was computed based on the previous 100-days' price fluctuations of both cryptocurrencies.

This coefficient may change 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 assets are going in the reversed trend while the positive coefficient means that the prices are going in the identical trend. For instance, if Bitcoin and StreamSpace connection is positively strong, it means that when BTC is growing SSH will rise as well. The negative strong relation will indicate that when BTC is growing SSH value will be in opposite decreasing.

The knowledge of the correlation coefficient helps to determine in percentage the influence of Bitcoin over StreamSpace. If we take all the things affecting the price of SSH as 100%, then the share of BTC price among these factors will be 82.81%. The other part which is 17.19% covers all the other things, such as news, events or crypto related laws.