Does Zeepin depend on Bitcoin? According to the correlation analysis, BTC and ZPT have no or negligible relationship. The correlation coefficient of their prices is -0.04, which was computed based on the last 100-days' price fluctuations of both cryptocurrencies.
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 assets are moving in the reversed trend while the positive coefficient points that the prices are moving in the identical trend. For example, if Bitcoin and Zeepin connection is positively strong, it means that when BTC is rising ZPT will rise as well. The negative strong relation will indicate that when BTC is rising ZPT value will be in contrary decreasing.
The knowledge of the correlation coefficient helps to compute in percentage the influence of Bitcoin over Zeepin. If we take all the aspects affecting the price of ZPT as 100%, then the share of BTC price among these factors will be 0.16%. The other part which is 99.84% covers all the other aspects, such as media, technological releases or regulations.