Topic: Bitcoin and Altcoin Price Correlation? (Read 372 times)

Hey all.  I know as bitcoin goes up, it seems like most of the altcoins go down.  Is there a direct relationship between bitcoin and altcoins?  The thing is i heard there was actually a reverse correlation between Bitcoin and ETH... is that true or not?


But what i definitely noticed was when i see lot of altcoins going down... bitcoin is down as well.  Thus if i look at the top 25 coins on coinmarketcap... if i see a lot of coins that are going up in green... i would see like 20 coins minimum going up and very few going down.  The same as if the coin price goes down... you would notice like at least 20 of those going down and at the absolute max 5 coins going up.  I think its more max 2 coins going up.  And of course bitcoin would be the coin that if it goes up, at least 20 coins in the top 25 coin go up and vice versa.


So if you want altcoin price to go up, shouldn't the first thing you look at should be the bitcoin price?  Thus if bitcoin price goes up or down a lot, shouldn't that have a relationship on your altcoin?  Thus if bitcoin is up a lot, very good chance your altcoin went up and a lot?  And if bitcoin goes down a lot, good chance your altcoin go down a lot?  What exactly is the reason for this?  Is it because these coins are traded with each other on exchanges like when ppl trade bitcoin with stratis and vice versa etc?


The other thing is i heard ETH and waves are rivals just like stratis and waves are competitors.  If that is the case and you hold say Stratis, wouldn't you want ETH and Waves to go down?  Or does it not matter?  However i noticed like i mentioned earlier... when the top altcoins in the top 5 go up, every other altcoin in the top 25 goes up as well.  The only coin i noticed that doesn't really move that much whether bitcoin or the other coins go up or down is litecoin.  Is that true or false?  I noticed litecoin seems to be like the most stable coin of them all.


So is it true, the direction bitcoin goes, the altcoins pretty much follows?  However the correlation between bitcoin and ETH is to me confusing because do they go directly with one another or not?