Does TittieCoin depend on Bitcoin? According to the correlation analysis, BTC and TTC have a strong positive relationship. The correlation coefficient of their prices is 0.64, which was calculated based on the previous 100-days' price fluctuations of both assets.
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 means that the prices of the currencies are going in the reversed trend while the positive coefficient means that the prices are moving in the identical trend. For example, if Bitcoin and TittieCoin connection is positively strong, it means that when BTC is rising TTC will grow as well. The negative strong relation will tell that when BTC is rising TTC price will be in contrary decreasing.
The knowledge of the correlation coefficient helps to compute in percentage the influence of Bitcoin over TittieCoin. If we take all the things affecting the price of TTC as 100%, then the share of BTC price among these factors will be 40.96%. The other part which is 59.04% covers all the other factors, such as media, events or politics.