Does DeepOnion depend on Bitcoin? Based on the correlation analysis, BTC and ONION have a strong positive relationship. The correlation coefficient of their prices is 0.68, which was computed based on the last 100-days' price dynamics of both coins.

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 shows that the prices of the assets are moving in the contrary direction while the positive coefficient indicates that the prices are moving in the same direction. For example, if Bitcoin and DeepOnion connection is positively strong, it means that when BTC is rising ONION will rise as well. The negative strong relation will show that when BTC is growing ONION value will be in contrary lowering.

The knowledge of the correlation coefficient helps to calculate in percentage the influence of Bitcoin over DeepOnion. If we take all the factors affecting the price of ONION as 100%, then the share of BTC price among these factors will be 46.24%. The other part which is 53.76% covers all the other factors, such as news, technological releases or regulations.