Zcrypt (ZXT)





Bitcoin and Zcrypt Correlation

Does Zcrypt depend on Bitcoin? Based on the correlation analysis, BTC and ZXT have no relationship. The correlation coefficient of their prices is 0.00, which was estimated based on the last 100-days' price dynamics of both cryptocurrencies.

This coefficient may adjust 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 cryptocurrencies are moving in the contrary trend while the positive coefficient points that the prices are moving in the identical trend. For example, if Bitcoin and Zcrypt connection is positively strong, it means that when BTC is growing ZXT will grow as well. The negative strong relation will point that when BTC is rising ZXT price will be in opposite lowering.

The knowledge of the correlation coefficient helps to figure out in percentage the influence of Bitcoin over Zcrypt. If we take all the things affecting the price of ZXT as 100%, then the share of BTC price among these factors will be 0.00%. The other part which is 100.00% covers all the other factors, such as news, technological releases or crypto related laws.