Topic: How does Bitcoin affect to the other cryptocurrencies? (Read 377 times)
As the cost of different altcoins are subject to the cost of BTC. The cost of other altcoin influence when the cost of BTC tumbles down. This is happing from the earliest starting point in the crypto business and consequently a large number of the altcoins cost are down due the value fall of BTC.
Bitcoins as the main cryptocurrency has the volume and the volatility of its affects the price movement of other cryptocurrencies. Any news that affect bitcoins is likely to have impact on alternative currencies.
I did not do deep Analytics but even the naked eye can see that all currencies are moving for bitcoin . not all but big . And what is the reason while I find it difficult to answer
Of course, the Bitcoin price will affect Altcoins. This is because Bitcoin dominates the market by 45%. Inevitably, if the price of Bitcoin down, it is certain Altcoin will drop the price.
The exchange rate of BTC at present has a great influence on the exchange rates of altcoins and ICOs. This is undeniable because at present the exchange rate of BTC is at the highest level in the market, the rate of domination is over 40%, so the BTC exchange rate increases to affect the price of remaining cryptos.
Generally numerous users,traders and speculators make new computerized cash or tokens since they need their own coins/tokens to resemble bitcoin so if that happen they will win a great deal of cash by that and case of that now in altcoins is ethereum this is run as of now in our nation like btc in light of the fact that we utilize this too here as a decent installment strategy like btc so if clients purchase eth in market obviously the cost will grow a ton and the designer will procure so if some altcoins exchange bitcoin obviously the alts will develop at that point if bitcoin exchange to altcoins btc will develop too in showcase distinctive money win by cycle in numerous exchanging ways like btc to alts or alts to btc
Many people say that the prices of the alternate cryptocurrencies are reducing because of the reduction of BTC prices. Bitcoin is know as the first crypto currency but other alternative currencies such as Eth, Ripple, Lite works as individual platforms. Therefore how the other crypto currencies depend on BTCs?
bitcoin only affects Altcoin because Altcoin always follow bitcoin bites and so now many people hold their altcoin because altcoin prices also have not gone up and I know again bitcoin price also affect the crypto market because now the price of bitcoin and crypto market also has not gone up because bitcoin prices have not been stable yet
It is the first crypto and people keep it as Digital Gold even the transaction is slow and higher cost fee then other.
People believe Btc is the King,, then other crypto currency will be affected and follow the BTc.
People believe Btc is the King,, then other crypto currency will be affected and follow the BTc.
Many people say that the prices of the alternate cryptocurrencies are reducing because of the reduction of BTC prices. Bitcoin is know as the first crypto currency but other alternative currencies such as Eth, Ripple, Lite works as individual platforms. Therefore how the other crypto currencies depend on BTCs?
The crypto prices are not following the price of the bitcoin actually, the choices of the traders are following the price of the bitcoin. The affect of the bitcoin is just changing by the changing opinions of the traders.
This has been discussed several times but still interesting, because this problem has no answer that can ensure 100% cause of altcoin dependence on bitcoin. just a basic prediction according to their understanding. My own answer is still same as the other because Bitcoin is parent of all types Altcoin, either from way of mining, scrypt, Block Reward, etc. so regarding other altcoin prices will definitely follow bitcoin price
Bitcoin is the King of the crypto market market and as such, rules the market. You would have noticed by now that a fall in bitcoin price relatively affects the prices of the other coins. This is because many of these coins cannot be purchased directly and bitcoin is needed as a means of exchange.
Many people say that the prices of the alternate cryptocurrencies are reducing because of the reduction of BTC prices. Bitcoin is know as the first crypto currency but other alternative currencies such as Eth, Ripple, Lite works as individual platforms. Therefore how the other crypto currencies depend on BTCs?
Simply because they are made after bitcoin. Bitcoin is the blue print while other crypto currencies are just an carbon copy. Bitcoin is the origin of all currency and without bitcoin then there would be no currency at all.
Bitcoin being the pioneer in crypto currencies greatly affect some altcoins. Most of the countries doesn't have conversion yet from fiat to an altcoin, usually Bitcoin is the first crypto they can purchase before they can convert it to other coins. Bitcoin is still the most popular coin as of today and I don't think that it will be replaced by any other coins anytime soon.
Bitcoin dominates. At present, other cryptocurrencies that bitcoin falls will definitely fall. At present, most exchanges are currency transactions. I think this is a very important reason.
Bitcoin was the first token to combine blockchain and cryptocurrency, so it affected the whole market.
If the price of bitcoin goes down, all the tokens will go down.
If the price of bitcoin goes down, all the tokens will go down.
Many people say that the prices of the alternate cryptocurrencies are reducing because of the reduction of BTC prices. Bitcoin is know as the first crypto currency but other alternative currencies such as Eth, Ripple, Lite works as individual platforms. Therefore how the other crypto currencies depend on BTCs?
It seems like somehow and some way bitcoin is affecting all the other cryptocurrencies there was not even single event when cryptocurrencies would grow and bitcoin would fall instead.
Bitcoin is the leading coin in the cryptocurrency market for a reason. Altcoins depend on Bitcoin and if Bitcoin will fall or grow in price, then altcoins will follow Bitcoin.
yes, it is true. bitcoin give impact to the altcoin and if bitcoin is getting down, this will also happen with altcoin. we need to know where bitcoin price wants to go so we can prevent from something that might happen in the future. I think we need to learn to analyze about bitcoin price so we can predict the trend of bitcoin price and we can decide what we want to do with our altcoin.
Bitcoin is the leading coin in the cryptocurrency market for a reason. Altcoins depend on Bitcoin and if Bitcoin will fall or grow in price, then altcoins will follow Bitcoin.
Altcoins are very influenced by bitcoin. Now there are few coins that have a really operating profitable business, that would grow regardless of market conditions
imo it's the other way around, other currencies that launch up every other day get investors who send their btc exchange for that coin. Which result in bitcoin price decline. Bitcoin gets massive hit from sell off from alt currencies investors.
When the market is turning into the bearish trend and there will be massive selling to the crypto currency especially altcoin. People are thinking if they can take the advantage by holding bitcoin and waiting for the price of altcoin to be declined a lot and they can re-enter to the market again. Bitcoin is dominating all of cryptocurrencies.
It's true..mostly the price of the coins depends on Bitcoin..if the Bitcoin price is low the other coins affected too..Bitcoin is powerful in crypto.
Many people say that the prices of the alternate cryptocurrencies are reducing because of the reduction of BTC prices. Bitcoin is know as the first crypto currency but other alternative currencies such as Eth, Ripple, Lite works as individual platforms. Therefore how the other crypto currencies depend on BTCs?
Yes, it's true that almost all coins on the crypto market depend on bitcoin. Almost all coins are traded in pairs with bitcoins and many people record their profits from the sale of coins in bitcoins. 
For the reason Bitcoin is the only(almost) way to buy another coins or tokens all of them will depend on it. And every price movement of Bitcoin will be stronger on altcoins. For example Bitcoin falls, altcoins falls in Bitcoin price, so they lost in dollar more than bitcoin. And this will continue till the moment they will be independent. And I don't know when it will happen 
imo it's the other way around, other currencies that launch up every other day get investors who send their btc exchange for that coin. Which result in bitcoin price decline. Bitcoin gets massive hit from sell off from alt currencies investors.
Many people say that the prices of the alternate cryptocurrencies are reducing because of the reduction of BTC prices. Bitcoin is know as the first crypto currency but other alternative currencies such as Eth, Ripple, Lite works as individual platforms. Therefore how the other crypto currencies depend on BTCs?
I think because it is the dominant cryptocurrency as of now. The other cryptocurrencies are directly proportional to the bitcoin when it comes to the value per each token. So if the bitcoin price rise high the other cryptocurrency as well and vice versa. It's really stupid. Indeed, most coins have their own platform. But it is very difficult to explain why this happens. Yet they see that the market is growing and falling just like bitcoin.
It seems to me that you do not understand the level of interaction of altcoins with bitcoins. Bitcoin has always been and will be the main cryptocurrency that is the standard of value of all altcoins. Free capital that can not for various reasons be placed in bitcoins settles in altcoins. As soon as bitcoin reduces the price, a panic in the market is created and investors urgently sell all the crypto-currencies because of fears. Now the capital does not flow from one cryptocurrency to another so the prices react synchronously.
As far as I know, bitcoin is like gold in the current currency. Gold is the first currency that survived long enough on earth after the barter era. Even today gold is not used for currency, but the price is still the highest than real money. So my point is Bitcoin as mother of cryptocurrency will affect Altcoin until Altcoin can be used in real life (legal currency). And then the fate of BTC will be like Gold at this current time. 
It's really stupid. Indeed, most coins have their own platform. But it is very difficult to explain why this happens. Yet they see that the market is growing and falling just like bitcoin.
Probably there is no direct dependence, they often move in tandem, but sometimes their ways diverge in opposite directions. Sometimes in the market there is a situation in which several digital assets start to move up or down. In other cases, the same crypto-currencies demonstrate a complete lack of price correlation.
bitcoin is often viewed as a "reserve currency". The ups and downs of its prices often affect the cost of other coins. So, the price of Litecoin often repeats the movements of the bitcoin price with the only difference being that it does not have an increase in the complexity of mining. Given that bitcoin was the first cryptocurrency and is most popular, it's no surprise that its value affects other coins.
As the price of other altcoins are dependent on the price of BTC. The price of other altcoin affect when the price of BTC falls down. This is happing from the very beginning in the crypto industry and for this reason many of the altcoins price are down due the price fall of BTC.
This is what I have observed too that was happening in the market today that the value of altcoins are based on the value of bitcoin too. I don't also know why this is dependent on the status of bitcoin but I think it is the reason why bitcoin is remaining on the top of the list in Cryptocurrency world
Many people say that the prices of the alternate cryptocurrencies are reducing because of the reduction of BTC prices. Bitcoin is know as the first crypto currency but other alternative currencies such as Eth, Ripple, Lite works as individual platforms. Therefore how the other crypto currencies depend on BTCs?
it affects all the altcoins in a way of moving like a whale, I mean, investors has a kind of scared of losing money online (crypto currencies) therefore when bitcoin declined, the value of the other coins/tokens will declined too. sometimes switching investment into other platform can affects the price of bitcoin and other altcoins also. so the manipulation is real, whales are exist in this kind of business that can manipulate all the price in crypto mostly in bitcoin.
Many people say that the prices of the alternate cryptocurrencies are reducing because of the reduction of BTC prices. Bitcoin is know as the first crypto currency but other alternative currencies such as Eth, Ripple, Lite works as individual platforms. Therefore how the other crypto currencies depend on BTCs?
Bitcoin is the first cryptocurrency who are recognize by some countries. The price of the altcoins really depends on bitcoin. Volatility of the bitcoin connects to the prices of the altcoins. It is the pioneer coins that's why altcoins follow some strategies on how bitcoin works.
Yeah I noticed it too, When the bitcoin price goes up the altcoins or other cyptocurrencies goes up too, But when the price goes down like what happened they called blood bath the other cryptocurrencies are on red too. I think all the altcoin or cryptocurrencies are really depending on bitcoin movements and I really want to know too why.
Whoever has the altcoin in the portfolio , they all know when bitcoin price slide down , the rest of the electronic market will fall sharply. Similarly , when bitcoin growth returns , the altcoin tend to work better. It's the first and most important electronic currency of the currencies market , bitcoin is like magnetic needle valuing the entire market
Although coins like Ethereum work on their own platform, they are still dependent on Bitcoin. The entire cryptocurrency market is heavily dependent on Bitcoin, as this coin dominates the rest of the cryptocurrency market.
Actually there is no empirical evidence that bitcoin affects the altcoins but it has been seen from the past that the price of altcoin is affected by the price of the bitcoin. There can be many reasons. I think bitcoin is the market leader and the most powerful coin in the market. So people consider bitcoin as the pulse of the market.
Bitcoin does affect altcoin, but in this case, it depends on the demand and supply of altcoin itself. Sometimes every day there is altcoin that appears so many offers but sometimes the demand is only a little so altcoin is less desirable. For bitcoin as an indicator will remain the benchmark in the world of crypto.
most trading partners are btc. We rarely see exchanges with fiat trading partners. But I think there is an exchange that works with this but when bitcoin increases altcoin the price also increases, not all but most. And this also occurs in the reduction of bitcoin as well. I think this is because of trading partners. Most trading partners are eth or btc
We all know bitcoin is the market leader. They are the pioneer coin also. That’s why every coin follows their strategy. If bitcoin price fall down then other coin investors also feel other coin price will also fall down.
Bitcoin affects on the whole crypto market. Bitcoin is like a benchmark. The current market is bearish and almost all altcoin go down excluding very strong ones. Anyway we need to wait because we do not have a choice we cannot stop the downtrend.
As the price of other altcoins are dependent on the price of BTC. The price of other altcoin affect when the price of BTC falls down. This is happing from the very beginning in the crypto industry and for this reason many of the altcoins price are down due the price fall of BTC.
Many people say that the prices of the alternate cryptocurrencies are reducing because of the reduction of BTC prices. Bitcoin is know as the first crypto currency but other alternative currencies such as Eth, Ripple, Lite works as individual platforms. Therefore how the other crypto currencies depend on BTCs?
It seems to have something to do, because after all the bitcoin fluctuations will affect Altcoin holders to make decisions.
Everyone waited, and that was the main problem. So it seems like this trend will last for quite a long time.
Many people say that the prices of the alternate cryptocurrencies are reducing because of the reduction of BTC prices. Bitcoin is know as the first crypto currency but other alternative currencies such as Eth, Ripple, Lite works as individual platforms. Therefore how the other crypto currencies depend on BTCs?
Of course interconnected, because of the possibility of many exchange markets, they are paired together. Of course it will not be exactly the same, but it seems that if the transaction volume ratio is not too big compared to total marketcap, I think there will still be correlation.
Many people say that the prices of the alternate cryptocurrencies are reducing because of the reduction of BTC prices. Bitcoin is know as the first crypto currency but other alternative currencies such as Eth, Ripple, Lite works as individual platforms. Therefore how the other crypto currencies depend on BTCs?
I think quite simple, now more panic can occur. For example when we see Tron going up, while Bitcoin goes down, we will sound the same idea that Tron will soon go down. And in crypto, if everyone has the same mind, then that's what will happen.
Simply because it is essentially of the crypto reserve currency. Any changes price of Bitcoin value will automatically Ethreum value will change also. Bitcoin is the influence the prices of all cryptocurrencies.
As the price of bitcoin falls, the market will be unstable, and then big money will flee. The rising sentiment of altcoin is not high, leading to the price of other crypto-currencies falling.
Many people say that the prices of the alternate cryptocurrencies are reducing because of the reduction of BTC prices. Bitcoin is know as the first crypto currency but other alternative currencies such as Eth, Ripple, Lite works as individual platforms. Therefore how the other crypto currencies depend on BTCs?
After making study about cryptocurrency, so far I observed that people are still dependent with the price movement of bitcoin, if you look at the history same pattern is happening and maybe that is why bitcoin affects altcoins.
The BTC's price is like a proxy for confidence in the money market，When the price of BTC starts to fluctuate, then people will choose to sell the token or keep holding it according to the fluctuation.
Many people say that the prices of the alternate cryptocurrencies are reducing because of the reduction of BTC prices. Bitcoin is know as the first crypto currency but other alternative currencies such as Eth, Ripple, Lite works as individual platforms. Therefore how the other crypto currencies depend on BTCs?
Unfortunately that's what happened. this is not a good thing, because there are so many coins and all of them have almost the same graph. If there is a coin against the current, especially with a fairly high rise, we begin to think that it may be this coin at the pump. So it seems we are making these trends happen.
Many people say that the prices of the alternate cryptocurrencies are reducing because of the reduction of BTC prices. Bitcoin is know as the first crypto currency but other alternative currencies such as Eth, Ripple, Lite works as individual platforms. Therefore how the other crypto currencies depend on BTCs?
Actually not everything, and percentage will not be the same. But this time it seems all connected, and we start thinking that all crypto will depend on Bitcoin. But I'm sure, that in percentage, maybe the growth will be different.
Many people say that the prices of the alternate cryptocurrencies are reducing because of the reduction of BTC prices. Bitcoin is know as the first crypto currency but other alternative currencies such as Eth, Ripple, Lite works as individual platforms. Therefore how the other crypto currencies depend on BTCs?
Yes, of course the bitcoin with altcoin is very different, but the bitcoin price is an indicator. This is because when bitcoin prices increase, indirectly altcoin prices also increase, and vice versa. Although basically the price of bitcoin and altcoin is determined by the demand and supply in the trade.
Bitcoin has a vital influence on the cryptocurrency market. As the Bitcoin rate increases, the altcoins will decrease because the capital concentrates mainly on the top 5 coins. Also, crypto like ETH, EOS, XRP, and ADA are also potential cryptos, the rates of these cryptos. It also affects the remaining cryptos in the market.
Many people say that the prices of the alternate cryptocurrencies are reducing because of the reduction of BTC prices. Bitcoin is know as the first crypto currency but other alternative currencies such as Eth, Ripple, Lite works as individual platforms. Therefore how the other crypto currencies depend on BTCs?
After making study about cryptocurrency, so far I observed that people are still dependent with the price movement of bitcoin, if you look at the history same pattern is happening and maybe that is why bitcoin affects altcoins.
35+ percents domination in market cap rate and after that you asking how BTC affect on alts?
Through the title of pioneer and also by the most sought price, with this the currency affects the others providing movements of high or downfall. Another factor that we can consider is his fame that is reaching the masses generating more power of manipulation of the prices. To conclude we may perhaps find a lesser force on this theme in the future, with the advance of the altcoins.
Many people say that the prices of the alternate cryptocurrencies are reducing because of the reduction of BTC prices. Bitcoin is know as the first crypto currency but other alternative currencies such as Eth, Ripple, Lite works as individual platforms. Therefore how the other crypto currencies depend on BTCs?
I think the problem is that for the time being we still don't have a single coin that has it's priced entirely based on their use case. So basically, prices as based on what people expect them to do in the future, so the majority is still speculation. Since speculation is all that they have in common, it means that whatever bitcoin does, the others will do as well, so that everything remains proportional.
In the future, when these coins are up and running, and being valued almost solely on their use case, this correlation will probably end, because as long as they keep doing what they promise they will remain their value.
When you trade on most of exchanges, what you need to have? bitcoin.
And when you have bitcoin, you can now trade with almost everything in the market. There are some decentralized exchanges that are only for ETH but ETH is also depending to bitcoin.
You sell ETH > bitcoin > USD but there's an option for ETH > USD depending on the exchanges you are using.
And when you have bitcoin, you can now trade with almost everything in the market. There are some decentralized exchanges that are only for ETH but ETH is also depending to bitcoin.
You sell ETH > bitcoin > USD but there's an option for ETH > USD depending on the exchanges you are using.
All other cryptos are fully dependent on Bitcoin. Becasue, BTC has the largest fiat conversion options, while a tiny amount exchange might support altcoins to fiat conversion. This is why all coins price depends on BTC price too.
Bitcoin is currently the crypto leader in the crypto market with the highest exchange rates, and whenever the BTC rate increases or decreases, it affects the remaining crypto. I find that when the market rate increases or decreases, most of the altcoins are affected by the rise of BTC and ETH. Therefore, if the investment is permanent and stable, then ETH and BTC are a reasonable choice.
When bitcoin increases the price of the altcoins also increases, not all but mostly. And this also happens to decreases in bitcoin as well. I think this is because of trading pairs. Most of the exchanges trading pair is with eth or btc. But most of trading pair of eth is btc. Rarely do we see an exchange with a fiat trading pair. But i think there has been exchanges that is working with this.
Its true that bitcoin affect the other currencies as they follow the price rate of it. I think this is the first and number one Crypto currency in the world. So other currency consider bitcoin as their head and follows it as an ideal.
Bitcoin dominance in the coinmarketcap is about 40 percent. Most alternative currency take their pairing with Bitcoins, that is why you see BTC/Eth, BTC/XRP and the rest, so any thing that affect bitcoins indirectly affects its other pair.
when you find something which is secure and you know you can be benefited with this that is enough to make you confident about your investment, and there is huge number of people out there who are involved with it and getting benefits.
Technically bitcoin's technology has been an inspiration to other cryptocurrencies from it's very new days.
Most of the altcoins use the same algorithms that bitcoin uses- for an example- the proof of work algorithm is being used by more then 80% of the altcoins- more then that, Litecoin, one of the most popular altcoins, uses the very same algorithem of bitcoin but with a very minor changes in some parameters, nothing serious at all.
At a price aspect, because most of the altcoins are being traded against the bitcoin, a fall in bitcoin's price will instantly result altcoins price to fall down, altcoins won't be able to exist in a market view without bitcoin.
Most of the altcoins use the same algorithms that bitcoin uses- for an example- the proof of work algorithm is being used by more then 80% of the altcoins- more then that, Litecoin, one of the most popular altcoins, uses the very same algorithem of bitcoin but with a very minor changes in some parameters, nothing serious at all.
At a price aspect, because most of the altcoins are being traded against the bitcoin, a fall in bitcoin's price will instantly result altcoins price to fall down, altcoins won't be able to exist in a market view without bitcoin.
Changes in the price of bitcoin affect the entire crypto exchange. When the price of bitcoin falls, other Altcoin prices also decline.
When bitcoin prices start to rise, prices in other coins are rising.
When bitcoin prices start to rise, prices in other coins are rising.
alts are falling because people are moving from crypto to fiat.
this is not related to only bitcoin fall! the entire market is falling.
Bitcoin is the most important currency... many alts follow the same trend because other factors.
this is not related to only bitcoin fall! the entire market is falling.
Bitcoin is the most important currency... many alts follow the same trend because other factors.
Since Bitcoin is the first crypto being supported and being adopted, most alts are still depending how successful Bitcoin will in order for them being noticed, if Bitcoin will grow further the use of alternative will also being adopted, you mentions some of those coins who already gaining it's own popularity but still the main basis of their respected value still depend with Bitcoin.
My point is that if we could neglect using Bitcoins (like if the people doesn't want to trade with bitcoins and all are accepting Eth or any other Altcoin), we can use altcoins as standalone medium. Just an idea but I do not know whether it is practical or not.
I also think like that, I think because bitcoin is the first cryptocurrency so whatever happens all altcoin follows the price of bitcoin and also the effect of demand from the market but not all coins are also like that
Many people say that the prices of the alternate cryptocurrencies are reducing because of the reduction of BTC prices. Bitcoin is know as the first crypto currency but other alternative currencies such as Eth, Ripple, Lite works as individual platforms. Therefore how the other crypto currencies depend on BTCs?
Because of the main trader coin is bitcoin, some of these altcoins were relying on bitcoin price if goes down the same reaction to the bitcoin price they are all affected with the bitcoin price. Yes, they have different platforms but when it comes in trading in the market bitcoin will become the center of all coins in the market.Unlike those coins having a pumping group to make their coins project more expensive even bitcoin is in the dip.
Since Bitcoin is the first crypto being supported and being adopted, most alts are still depending how successful Bitcoin will in order for them being noticed, if Bitcoin will grow further the use of alternative will also being adopted, you mentions some of those coins who already gaining it's own popularity but still the main basis of their respected value still depend with Bitcoin.
Perhaps it's the capitalization of people investing in bitcoin. In a place with the capitalization of bitcoin, the trust in the rest of the crypto currency is growing.
Many people say that the prices of the alternate cryptocurrencies are reducing because of the reduction of BTC prices. Bitcoin is know as the first crypto currency but other alternative currencies such as Eth, Ripple, Lite works as individual platforms. Therefore how the other crypto currencies depend on BTCs?
Because of the main trader coin is bitcoin, some of these altcoins were relying on bitcoin price if goes down the same reaction to the bitcoin price they are all affected with the bitcoin price. Yes, they have different platforms but when it comes in trading in the market bitcoin will become the center of all coins in the market.Unlike those coins having a pumping group to make their coins project more expensive even bitcoin is in the dip.
Many people say that the prices of the alternate cryptocurrencies are reducing because of the reduction of BTC prices. Bitcoin is know as the first crypto currency but other alternative currencies such as Eth, Ripple, Lite works as individual platforms. Therefore how the other crypto currencies depend on BTCs?
Because of market dominance, so peice of all alternate crytocurrencies are effected. Plus, bitcoin is main trading currencies on exchanges, if you want to buy altcoin, you have to get btc or eth 1st. So btc price go down mean exchange rate between btc and altcoin go down.
Price in dollars is the big deal with bitcoin to alternative coins.
Market are mostly into ALTS to BTC.
and bitcoin movement is very crazy now.
ALTS = BTC = USD
therefore ALTS = USD
with different value.
Market are mostly into ALTS to BTC.
and bitcoin movement is very crazy now.
ALTS = BTC = USD
therefore ALTS = USD
with different value.
Beside from Bitcoin being the first and dominant cryptocurrency, the prices of altcoins depend on bitcoin because it is a major currency in the crypto market. Of course, you can’t exchange a coin directly to fiat (eg USD). You have to exchange it to BTC first before actually exchanging it to fiat.
Currently 90 or 95% of the market follow Bitcoin in the price and everything is driving down. I really hope that the altcoins will start to pump again like in the good old days. Sometimes they pumped hard while Bicoin going down!
Many people say that the prices of the alternate cryptocurrencies are reducing because of the reduction of BTC prices. Bitcoin is know as the first crypto currency but other alternative currencies such as Eth, Ripple, Lite works as individual platforms. Therefore how the other crypto currencies depend on BTCs?
Yes, of course the bitcoin with altcoin is very different, but the bitcoin price is an indicator. This is because when bitcoin prices increase, indirectly altcoin prices also increase, and vice versa. Although basically the price of bitcoin and altcoin is determined by the demand and supply in the trade.
I don't think the price of bitcoin affects other cryptocurrencies. The price of cryptocurrencies as well as the price of bitcoin is influenced by certain factors. This is the cost of electricity transaction cost or the cost of creating mining farms. All these factors affect the price of all cryptocurrencies equally. But the most important factor is still supply and demand.
In my opinion bitcoin is an indicator. If everything is good with bitcoin, then all altcoins feel good. So I understand this situation.
Bitcoin is the cryptocurrency. That's what people believe. A token worth investment that can rise 10 folds in a matter of months.
And if you are tired of bitcoin or think that you've missed the train, there are other less known options called altcoins.
A 41% market dominance of bitcoin with 1000s of coins in market explains it simple.
And if you are tired of bitcoin or think that you've missed the train, there are other less known options called altcoins.
A 41% market dominance of bitcoin with 1000s of coins in market explains it simple.
Many people say that the prices of the alternate cryptocurrencies are reducing because of the reduction of BTC prices. Bitcoin is know as the first crypto currency but other alternative currencies such as Eth, Ripple, Lite works as individual platforms. Therefore how the other crypto currencies depend on BTCs?
I think because it is the dominant cryptocurrency as of now. The other cryptocurrencies are directly proportional to the bitcoin when it comes to the value per each token. So if the bitcoin price rise high the other cryptocurrency as well and vice versa.
Many people say that the prices of the alternate cryptocurrencies are reducing because of the reduction of BTC prices. Bitcoin is know as the first crypto currency but other alternative currencies such as Eth, Ripple, Lite works as individual platforms. Therefore how the other crypto currencies depend on BTCs?
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