Does Price Movement of Bitcoin Affect Alt Coins

Kprawn

legendary

Activity: 1904

Merit: 1074

Many people trade Alt coins to make some good profits and when the Bitcoin price is low enough, they cash out to quickly

buy bitcoins and this push up the price again... and visa versa. Most people can do f@#all with most of these Alt coins and

needs to convert to BTC or Fiat to spend these Alt coins. So everyone is looking at the Bitcoin price, to decide what they

should do with their Alt coins. Wink

boris singer

sr. member

Activity: 882

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Quote from: JimmieA on May 04, 2018, 01:33:58 PM

Quote from: ahmedbrown on May 04, 2018, 10:15:18 AM

There is a general believes that when Bitcoin sneeze, the entire Cryptocurrency markets catches cold. Am so curious to understand how the movements of Bitcoin price affects other Alt coins either in uptrend or downtrend movements.
So, will be keen to understand what factors causes this, perhaps, because bitcoin is a base currency or is there other market factors that causes this.

currently, almost altcoins can be convert to btc with a price and vice versa. so, when the price of btc increases then altcoin's price also that. however that's not absolute. in the fact that traders like invest in altcoins more btc, but everybody usually attent to the price of btc than. because, it's the main coin of crypto system.

altcoins are like followers who have to wait for fluctuations in bitcoin prices to the level of stagnant correction, bitcoin and altcoin can not run side by side except when bitcoin decreases sharply, the created ecosystem makes bitcoin the main benchmark, but in terms of volume, altcoin brings change and is able to provide benefits for more quantity in a short time if bitcoin is in the correction period.

JimmieA

sr. member

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Quote from: ahmedbrown on May 04, 2018, 10:15:18 AM

There is a general believes that when Bitcoin sneeze, the entire Cryptocurrency markets catches cold. Am so curious to understand how the movements of Bitcoin price affects other Alt coins either in uptrend or downtrend movements.
So, will be keen to understand what factors causes this, perhaps, because bitcoin is a base currency or is there other market factors that causes this.

currently, almost altcoins can be convert to btc with a price and vice versa. so, when the price of btc increases then altcoin's price also that. however that's not absolute. in the fact that traders like invest in altcoins more btc, but everybody usually attent to the price of btc than. because, it's the main coin of crypto system.

fiulpro

hero member

Activity: 1890

Merit: 831

Alterations in bitcoin doeant necessarily have a direct effect on alt coins, but to some extent it creates a wave of disalignment in them.
If bitcoins prices are low, that doesnt directly decreases or increased the price of alts, but its the shift of user base that comes into play.
If bitcoin is at a dip, most people get panic and sell off their holdings or exchange them with some alt, which results in alteration of the price of alt coin aswell.

So the direct effect is not much but the compounded effect on the pricing does have curves due to bitcoins market status.
Also the market is quite competitive, so to overcome that also, there needs to be a kind of stable and to large extent a constant difference amoung the currencies. It also alters with change in ones value.

roshanface123

full member

Activity: 308

Merit: 100

As per my observation there is nothing to affect alt coin that directly related to bitcoin. Because the fluctuations in each crypros rate is only based on their own changing demands by the crypto users in crypto market. Changing value of each and every cryptos are themselves responsible.

erep

hero member

Activity: 2282

Merit: 589

Bitcoin is the highest market share holder, you need to have Bitcoin to buy most of the altcoins, it will obviously affect the price of altcoins. Bitcoin is why most of the people are here in crypto community so it is normal.

jerjer

full member

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Merit: 105

Money Token

Yes , bitcoin value influences the market. When bitcoin value rise up , then almost all of the altcoins value will go up and vice versa. But not all altcoins depending on the value of bitcoin. There are some coins which are not affected its value even the bitcoin is down. Its value in dollars still stable and high. Just my observations in the crypto market.

squallw

full member

Activity: 504

Merit: 122

Yes, definitely.

When bitcoin is dumping hard, almost all altcoins goes down too, because a lot of people exchange your cryptos to fiat at this scene. Ex: BTC->USD, ETH->USD, Altcoins->BTC->USD.
When bitcoin is pumping hard, almost all altcoins goes down too, because a lot of people exchange your altcoins to bitcoin at this scene. Ex: ETH->BTC, XRP->BTC, BCH->BTC.

And finally, when bitcoin is consolidated, almost all altcoins has a good increase at the price and can make a new uptrend.

I don't think that it is good, it happen cause all altcoins has pair with BTC.
Would be good in the future if bitcoin didn't affect altcoins.

ManaMan

member

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Merit: 38

Quote from: ahmedbrown on May 04, 2018, 10:15:18 AM

There is a general believes that when Bitcoin sneeze, the entire Cryptocurrency markets catches cold. Am so curious to understand how the movements of Bitcoin price affects other Alt coins either in uptrend or downtrend movements.
So, will be keen to understand what factors causes this, perhaps, because bitcoin is a base currency or is there other market factors that causes this.

Because at the beginning you could only trade alts with bitcoin, and thus whenever people did trades they wanted to grow their bitcoin mainly. Now you have exchanges that support fiat pairs with other alts or even USDT (which might not be the best choice, but it still exists), nevertheless bitcoin still successfully keeps majority of trading volume in alts. Even when I trade sometimes, for instance I don't look at USD/EUR or any other fiat price but I look at satoshis price.

When bitcoin is doing good then there is good belief in the market and because you can profit more from alts people move towards them, but when btc goes down some people sell alts cuz they believe more in bitcoin to survive if their alt crushes or something. Crypto moves in cycles, where you see bitcoin pulling alts with it and other way around it.

imteaz

full member

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It does indeed when bitcoin price goes up, you will notice most of the altcoin price also move up with it, and when bitcoin price goes down, altcoin price also goes down. So it proves that altcoin is connected to bitcoin, and dictate the price.

nick_nick

full member

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Merit: 100

Quote from: ahmedbrown on May 04, 2018, 10:15:18 AM

There is a general believes that when Bitcoin sneeze, the entire Cryptocurrency markets catches cold. Am so curious to understand how the movements of Bitcoin price affects other Alt coins either in uptrend or downtrend movements.
So, will be keen to understand what factors causes this, perhaps, because bitcoin is a base currency or is there other market factors that causes this.

Its very simple. Bitcoin is the premier crytocurrency and has gained much acceptance for use in varied transactions. Most communities and companies have accepted bitcoin for both purchases and payments. The demand for bitcoins therefore have much impact on other altcoins because most altcoins are traded and exchanged in bitcoins as a result of the varied use bitcoins can be put to

dothebeats

legendary

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Cashback 15%

It doesn't necessarily affect alt coins but rather the conversion is what's being affected whenever bitcoin takes a hit or takes a bull run. There's no direct correlation between bitcoin and alts, I believe, but there are times that other coins follow suit whenever bitcoin is in a run. On most occasions however, altcoins and bitcoin's movement aren't aligned so there's that. Back then, when altcoin is booming, bitcoin seem to be in a bad shape, that's why most people back in 2015-2016 are eager to invest in altcoins rather than bitcoins due to the said phenomenon. But right now, everyone are eyeing bitcoin and altcoins are kinda trailing behind.

Balmoon

newbie

Activity: 118

Merit: 0

I think bitcoin has no effect on altcoin, there are many people who talk bitcoin like other altcoin mains, but i think altcoin has its own market different from bitcoin so i do not think it is benchmark for altcoin.

Denisliternyjj

member

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Merit: 15

As I notice the price bitcoin has a strong effect on Alt Coins and always when bitcoin goes to drawdown all the Alt Coins go down

ahmedbrown

jr. member

Activity: 116

Merit: 1

There is a general believes that when Bitcoin sneeze, the entire Cryptocurrency markets catches cold. Am so curious to understand how the movements of Bitcoin price affects other Alt coins either in uptrend or downtrend movements.
So, will be keen to understand what factors causes this, perhaps, because bitcoin is a base currency or is there other market factors that causes this.

Topic: Does Price Movement of Bitcoin Affect Alt Coins (Read 152 times)