Does Teachers Blockchain depend on Bitcoin? Based on the correlation analysis, BTC and TCH have a weak positive relationship. The correlation coefficient of their prices is 0.27, which was measured based on the previous 100-days' price fluctuations of both coins.
This coefficient may range 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 coins are going in the reversed direction while the positive coefficient tells that the prices are moving in the same direction. For instance, if Bitcoin and Teachers Blockchain connection is positively strong, it means that when BTC is rising TCH will rise as well. The negative strong relation will show that when BTC is rising TCH price will be in opposite decreasing.
The knowledge of the correlation coefficient helps to estimate in percentage the influence of Bitcoin over Teachers Blockchain. If we take all the circumstances affecting the price of TCH as 100%, then the share of BTC price among these factors will be 7.29%. The other part which is 92.71% covers all the other circumstances, such as media, events or crypto related laws.