Topic: Are all altcoins dependent on Bitcoin? - page 6. (Read 3909 times)
Although DeFi and mortgage-related cryptocurrency market performance is very strong. But I think Bitcoin is the king. It dominates the entire cryptocurrency market.
Alas, this is so, the entire altcoin market is inevitably tied to the price of bitcoin.
Thus, for the normal functioning of the altcoin market, it is necessary for bitcoin to stand in place or grow slowly.
Thus, for the normal functioning of the altcoin market, it is necessary for bitcoin to stand in place or grow slowly.
For altcoins to rise all the way to the moon, Bitcoin needs to go up. That's largely because the entire crypto market relies on Bitcoin as the reserve cryptocurrency. As far as code is concerned, not every altcoin is dependent on Bitcoin to succeed. Ethereum is a good example of this, making strides on its own as the largest smart contract platform in the world with a unique codebase.
For useless Bitcoin-based forks like Bitcoin SV and Bitcoin Cash, that's another story. These forks need Bitcoin, or they'll go all the way down the drain. They're only using the "Bitcoin" branding/name just to gain public exposure. But they won't survive on their own, if they decide to part ways (like changing their name, codebase, etc). I don't think the crypto market will "let go" of Bitcoin, unless a new cryptocurrency with a new technology that will rival Blockchain tech comes into fruition. Just my thoughts
The biggest reason is because Bitcoin was the first and because of that bitcoin is the pioneer from any other alts and most of the another currency is just copycat of bitcoin and one more thing is Bitcoin has the most secure network. So i think this is the reason why when bitcoin fall any other alts will fall too.
You could say bitcoin is the father and mother of cryptocurrency. it is natural for altcoins to follow the development and market growth of bitcoin.no one would have thought that there would be an altcoin that could replace bitcoin's position in the crypto market. it's too vital I guess.
Alas, this is so, the entire altcoin market is inevitably tied to the price of bitcoin.
Thus, for the normal functioning of the altcoin market, it is necessary for bitcoin to stand in place or grow slowly.
The growth slowly by bitcoin is there and altcoins are reliant to bitcoin. That's no question because most pairs are with bitcoin although some dexes provide liquidity even without the pairing of bitcoin still, that's going to the market of bitcoin when most traders are doing it to hold as much as bitcoin as they want and sell it for bitcoin.Thus, for the normal functioning of the altcoin market, it is necessary for bitcoin to stand in place or grow slowly.
as they do really have those kind of thoughts where the market would go down even more deeper which would cause for bitcoin to go down and thats already a casual
impression or behavior of the market but there are instances where alts do go into the opposite way but just really for temporary and when bitcoin starts to
show up some green candles then thats the time where everything do goes back to much better market situation.
Alas, this is so, the entire altcoin market is inevitably tied to the price of bitcoin.
Thus, for the normal functioning of the altcoin market, it is necessary for bitcoin to stand in place or grow slowly.
The growth slowly by bitcoin is there and altcoins are reliant to bitcoin. That's no question because most pairs are with bitcoin although some dexes provide liquidity even without the pairing of bitcoin still, that's going to the market of bitcoin when most traders are doing it to hold as much as bitcoin as they want and sell it for bitcoin. Thus, for the normal functioning of the altcoin market, it is necessary for bitcoin to stand in place or grow slowly.
Not all altcoins depend on altcoins. Bitcoin is certainly the king of crypto assets and has the highest rating and highest volume. Each altcoin has different prospects so that the prospects cannot be generalized. However, one of the factors that have an influence on the prospects of altcoins is the innovation and the way each altcoin dominates the crypto asset market. altcoin price increases can vary and are not exactly the same as Bitcoin. Altcoins can be an alternative investment choice when Bitcoin prices are too expensive.
In a way you are right but not on the way you think, a great deal of the altcoins eventually go to zero, for many altcoins this is the only independent movement they show from bitcoin so at least we can say in their last moments they did something that bitcoin has never done , but now being serious it is true we can see some independent movements coming from altcoins but most of the time they just follow bitcoin and this is because they do not have developed a strong market by themselves and people are just speculating with the coin without any interest in holding it for the long term.
Alas, this is so, the entire altcoin market is inevitably tied to the price of bitcoin.
Thus, for the normal functioning of the altcoin market, it is necessary for bitcoin to stand in place or grow slowly.
Thus, for the normal functioning of the altcoin market, it is necessary for bitcoin to stand in place or grow slowly.
In my opinion it is very clear that altcoins are very dependent on bitcoin movements, in fact when BTC goes up altcoins will also go up, and vice versa if BTC goes down altcoins also go down, although there are some cases altcoins do not necessarily follow the bitcoin trend, but in general altcoins are very dependent on BTC.
That's right, I've seen that kind of thing in the past as well as in the present, so it's clear that in general Altcoins are always dependent on Bitcoin conditions so when there is a downturn in the market, the main thing to watch out for is Bitcoin. In my opinion, not all cryptocurrencies depend on Bitcoin, but Bitcoin certainly influences global cryptocurrency price movements because Bitcoin has a very large share in the global crypto market capitalization, so when the price goes down or up it will affect other cryptocurrencies.
Yes, it is clear, in general it is not all affected by Bitcoin by cryptocurrency, but everyone can see that popular coins are always influenced by the movement of Bitcoin in the market so that many make Bitcoin the basic price benchmark for other cryptocurrencies.
In my opinion, not all cryptocurrencies depend on Bitcoin, but Bitcoin certainly influences global cryptocurrency price movements because Bitcoin has a very large share in the global crypto market capitalization, so when the price goes down or up it will affect other cryptocurrencies.
At present, Altcoin do depend on Bitcoin, and I think there are several reasons: 1. Some altcoins project party does not have good technical support or good marketing strategy, so that people do not believe in their project. Once the market fluctuates sharply, people will immediately sell their altcoins, which leads to a serious price decline. 2.Bitcoin has been in existence for more than ten years. After many blows, its price has been rising for a long time. It is hard to say whether it can recover if it is a altcoins. All in all, it will be difficult for altcoin to escape the influence of Bitcoin, which has become a bellwether as the leader of cryptocurrencies, unless there is a stronger consensus among other altcoins and technology that may surpass Bitcoin in the future.
I feel like this. In my opinion, whenever Bitcoin rises, most of the altcoins also rise. Bitcoin begins to fall sharply, and altcoins also fall with it. In fact, it is all because in the crypto market, the decline of Bitcoin affects the market value, and people's panic psychology will sell them one after another. This is the reason for this phenomenon.
Maybe Bitcoin is more accurate as a medium of exchange from several altcoins available in several markets and remember Bitcoin and altcoins are the same investment tool in the world, namely cryptocurrency, of course if bitcoin crashes then all altcoins also crash because they switch to stable coins like usdt, but still all of that because of the supply and demand that occurs in crypto.
It is said that there is no relationship between altcoins and bitcoin but there is an influence I think everything is interconnected if traders can certainly judge what is happening in the market, what's more, traders who have known cryptocurrencies for a long time will understand it better
The influence is very direct because as we know the most dominant coin in this market is bitcoin and almost everything in this market has a trading pair against bitcoin, now it could be expected that if the price of bitcoin goes down then altcoins could go up but this is not the case because before the price of bitcoin goes down traders get out of their altcoin positions first and only then they get out of their bitcoin positions, which is what causes that altcoins show movements that are so similar to the ones we see in bitcoin.
Except the forks like Bitcoin Cash etc., not all of the altcoins in the market are dependent on Bitcoin. It is true that majority of them move exactly the same way with Bitcoin price. The reason why is that Bitcoin has a huge dominance in the market (it's around 45% now). So, its movements affect the others also.
Of course not ! For example, stable coins. They are pegged to the dollar, and their price does not change from the value of the bitcoin. And dependence will not appear in any way and under no circumstances! Actually, they are made in order to be fixed in the analogue of fiat, without fiat exchange.
Not? Why do you think so? The potential of any project doesn't matter for an uptrend unless the Bitcoin chart is bullish. The dependence is real and the BTC dominance affects the altcoin markets in every market cycle. The main reason why altcoins can't reach ATH prices is because of the downtrend on the BTC charts. Checking the previous market history, you can see how this dependence works between altcoins and the Bitcoin market. The BTC dominance goes down and the prices pump for almost all altcoins. 
I don't think all altcoins are value dependent on bitcoin. I think it all depends on market demand, and what is certain is that investors are very influential in increasing the price of an altcoin
It depends on Bitcoin Look at the current situation of the altcoin market and compare the price of bitcoin with how the altcoin market has reacted. Whale traders who need to take huge positions are needed to create demand in the market. When the Bitcoin market is on an up trend, whale traders will trade in the market and will also look at the altcoin market.
So if the situation in the bitcoin market is in a good position then you can expect something good from altcoin, otherwise you should stay away from this market.
Of course not ! For example, stable coins. They are pegged to the dollar, and their price does not change from the value of the bitcoin. And dependence will not appear in any way and under no circumstances! Actually, they are made in order to be fixed in the analogue of fiat, without fiat exchange.
From my point of view, even though btc and altcoins are some what similar with respect to the blockchain technology, there should not be dependency. However, being father of cryptocurrency, and due to market capitalization, btc and altcoins are logically dependent. This has created huge dominance by btc and thus it actually drives entire market.
I don't think all altcoins are value dependent on bitcoin. I think it all depends on market demand, and what is certain is that investors are very influential in increasing the price of an altcoin
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