Does Thunder Token depend on Bitcoin? According to the correlation analysis, BTC and TT have a moderate negative relationship. The correlation coefficient of their prices is -0.35, which was calculated based on the previous 100-days' price movements of both currencies.
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 shows that the prices of the currencies are going in the opposite direction while the positive coefficient indicates that the prices are going in the same trend. For example, if Bitcoin and Thunder Token connection is positively strong, it means that when BTC is rising TT will rise as well. The negative strong relation will show that when BTC is rising TT price will be in opposite decreasing.
The knowledge of the correlation coefficient helps to figure out in percentage the influence of Bitcoin over Thunder Token. If we take all the aspects affecting the price of TT as 100%, then the share of BTC price among these factors will be 12.25%. The other part which is 87.75% covers all the other circumstances, such as media, technological releases or regulations.