Does Winding Tree depend on Bitcoin? According to the correlation analysis, BTC and LIF have a moderate negative relationship. The correlation coefficient of their values is -0.39, which was measured based on the previous 100-days' price movements of both coins.
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 points that the prices of the coins are going in the opposite direction while the positive coefficient indicates that the prices are going in the same trend. For instance, if Bitcoin and Winding Tree connection is positively strong, it means that when BTC is growing LIF will rise as well. The negative strong relation will point that when BTC is growing LIF value will be in contrary lowering.
The knowledge of the correlation coefficient helps to figure out in percentage the influence of Bitcoin over Winding Tree. If we take all the circumstances affecting the price of LIF as 100%, then the share of BTC price among these factors will be 15.21%. The other part which is 84.79% covers all the other factors, such as news, events or crypto related laws.