Does Trollcoin depend on Bitcoin? Based on the correlation analysis, BTC and TROLL have a very strong positive relationship. The correlation coefficient of their values is 0.90, which was estimated based on the last 100-days' price dynamics of both assets.
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 points that the prices of the cryptocurrencies are moving in the contrary trend while the positive coefficient indicates that the prices are going in the same trend. For example, if Bitcoin and Trollcoin connection is positively strong, it means that when BTC is growing TROLL will rise as well. The negative strong relation will indicate that when BTC is rising TROLL value will be in contrary decreasing.
The knowledge of the correlation coefficient helps to estimate in percentage the influence of Bitcoin over Trollcoin. If we take all the aspects affecting the price of TROLL as 100%, then the share of BTC price among these factors will be 81.00%. The other part which is 19.00% covers all the other aspects, such as news, technological releases or politics.