Bitcoin is the King of all cryptocurrencies hence it has altcoins such as ETH, LTC, DASH etc. as its followers\s but i get a litte confuse how bitcoin's supremacy tends to dictate the price rates of most altcoins.
Yes bitcoin has the supremacy over other altcoins as they have not gained the trust of investors.Also altcoins have not proved their potential but bitcoin has survived despite strong and continuousattacks by some governments. 
Topic: How does the supremacy of bitcoin affect altcoins? (Read 1657 times)
Bitcoin is the first cryptocurrency ever created, if the bitcoin destroy also altcoins destroy because the two connected to each other and altcoins inspired by bitcoin, and bitcoin is the biggest coin marketcap anf bitcoin can affect the overall price of the Altcoin.
It does definately make them follow Bitcoins price movements. For a lot of altcoins BTC is still the only trading pair on many exchanges. Until this won't change, Bitcoin will rule over altcoins.
preface:
I think ALL altcoins are basically worthless.
The point where they differentiate from Bitcoin (protocol choices/hashing algorithm etc..) is actually an inferior one, having been discarded by bitcoin due to security risk/protocol efficiency/ecosystem robustness.
Bitcoin is a huge bet but while I don’ know if in 10 years bitcoin would be worth 1 million or zero (or course I have an idea), I am absolutely sure that in 10 years every present shitcoin (all of them, but bitcoin) will be worth ZERO.
Having said that.
Dominance is the bitcoin market capitalisation over the total market capitalisation of all cryptocurrencies.
When bitcoin was the sole cypto around market dominance was 100%.
You can see a graph of market dominance here:
https://coinmarketcap.com/charts/
In a bull market they tend to rise more than bitcoin: hence in a bull market the bitcoin dominance tends to lower.
Conversely in a bear market those coins tend to drop faster than bitcoin: the bitcoin dominance tends to rise.
Whay that? most altcoins can be traded only versus bitcoin: when market rises avi people tends to sell Bitcoin (larger market cap) to buy smaller cyptos that can be lifted more with less capital influx.
The everse happens ib a bear market where investors, actually scalpers, revert to bitcoin as a safe haven in crypto land, to protect their investment (they cannot sell for fiat in a single trade).
Hope it clarifies!
F1
I think ALL altcoins are basically worthless.
The point where they differentiate from Bitcoin (protocol choices/hashing algorithm etc..) is actually an inferior one, having been discarded by bitcoin due to security risk/protocol efficiency/ecosystem robustness.
Bitcoin is a huge bet but while I don’ know if in 10 years bitcoin would be worth 1 million or zero (or course I have an idea), I am absolutely sure that in 10 years every present shitcoin (all of them, but bitcoin) will be worth ZERO.
Having said that.
Dominance is the bitcoin market capitalisation over the total market capitalisation of all cryptocurrencies.
When bitcoin was the sole cypto around market dominance was 100%.
You can see a graph of market dominance here:
https://coinmarketcap.com/charts/
In a bull market they tend to rise more than bitcoin: hence in a bull market the bitcoin dominance tends to lower.
Conversely in a bear market those coins tend to drop faster than bitcoin: the bitcoin dominance tends to rise.
Whay that? most altcoins can be traded only versus bitcoin: when market rises avi people tends to sell Bitcoin (larger market cap) to buy smaller cyptos that can be lifted more with less capital influx.
The everse happens ib a bear market where investors, actually scalpers, revert to bitcoin as a safe haven in crypto land, to protect their investment (they cannot sell for fiat in a single trade).
Hope it clarifies!
F1
i will quote that sentence in 10 years
It will not happen, expecially if you talk about token too.
Anyway, just think at litecoin: imho is useless, but somehow it has a value for the past 5 years. And it will have a value for the next 10 years.
Bitcoin has a great affect on Bitcoin. It is responsible for lifting Altcoins, suppressing or depressing them. This is mainly because most of the Altcoins are traded for Bitcoin, meaning that you can sell and buy the Altcoins in terms of Bitcoin. Therefore the value of Altcoins tends to follow the prices of Bitcoin. This is in fact the main reason that Bitcoin affects the prices of Altcoins.
Bitcoin is the King of all cryptocurrencies hence it has altcoins such as ETH, LTC, DASH etc. as its followers\s but i get a litte confuse how bitcoin's supremacy tends to dictate the price rates of most altcoins.
I am also confused like you. Why? Everytime bitcoin drop its value all altcoins follows. Maybe bitcoin is the barometer of the prices of altcoins.
As leader on cryptocurrency market, bitcoin give confident for investor. If bitcoin price always rising and give good return, investor must be believe on altcoin can give big profits too
Bitcoin affects a lot of coin market, bitcoin prices and rising demand. In this situation, other currency prices fall due to low demand.
I believe that since Bitcoin and entire crypto industry is still in the basic phase of development, we have a long way to go who expect sustainability in the market. As of now, these currencies are interrelated in terms of volatility that means if the price of Bitcoin falls people tends to adjust their entire portfolio resulting in a volatility in altcoins too. This is my observation of the entire crypto market so far.
My opinion to this thread is that bitcoin is the first ever crypto currency and being the original crypto currency that takes the lead in the crypto market. Any market movement of bitcoin does have an impact to the alternative coins and this is the usual scenario of the market trend. I would say that btc and altcoins are basically correlated with other or directly proportional with each other.
Bitcoin is the King of all cryptocurrencies hence it has altcoins such as ETH, LTC, DASH etc. as its followers\s but i get a litte confuse how bitcoin's supremacy tends to dictate the price rates of most altcoins.
Being the first and pioneer coin in cryptocurrency i guess its normal that bitcoin will hold the legacy maker and the highest worthy coins in all of this,the value is depend on how many are using this coin because its a law of supply and demand,why should i buy other coins that i wont be needing in future.while bitcoin is the currency for the future,as simple as that dudebeing first obviously helps but it is not enough. you can only stay ahead if you are good. bitcoin is good and that is why it is staying way ahead of the rest. and also since the rest are mostly shit, they don't have a tiniest chance in this race.
imagine a fat man entering a running tournament. even if he starts with a 10 minute jump start compared to others, he still doesn't have a chance. he won't even be able to finish the race. but if it is an athlete with that 10 minute start then he will not only win the race but also will put a huge distance between him and the rest of the competitors.
in bitcoin the competitors are all that fat man and they all have broken legs
Bitcoin is the King of all cryptocurrencies hence it has altcoins such as ETH, LTC, DASH etc. as its followers\s but i get a litte confuse how bitcoin's supremacy tends to dictate the price rates of most altcoins.
Being the first and pioneer coin in cryptocurrency i guess its normal that bitcoin will hold the legacy maker and the highest worthy coins in all of this,the value is depend on how many are using this coin because its a law of supply and demand,why should i buy other coins that i wont be needing in future.while bitcoin is the currency for the future,as simple as that dude
The thing is that alll of the altcoins have trading pairs with bitcoin which means that whatever happens to bitcoin affects the prices of the altcoins that they are paid with. If people are not investing in bitcoin then that means that they are not trading in these altcoins that they are paired with so it affects the prices of the altcoins
Yes, eventually the altcoins price are depends on the price of BTC. BTC market price plays a vital role in the altcoins price and it is happening from the very beginning.
Bitcoin is the King of all cryptocurrencies hence it has altcoins such as ETH, LTC, DASH etc. as its followers\s but i get a litte confuse how bitcoin's supremacy tends to dictate the price rates of most altcoins.
Almost anyone who is involved in cryptocurrency is just always working to get more and more bitcoin, because they know that it is relevant and they know that it will never die because it has many people behind it unlike altcoins which are made only for making quick and small profit and they are risky to invest in because they could go down at any moment, and that is why you see anyone who has any investment in altcoin always exchanging them to bitcoin because when the market goes down it is safer for people to put their money on bitcoin which they can always trust to go back rather than letting them sit on a altcoin that might stay down or perish.
This was a very interesting post. The price of altcoins are usually related to the price of Bitcoin. So, when the price of Bitcoin falls, the price of other altcoins fall as well.
Definitely, bitcoin and altcoins are correlated with each other. Any movement either be it uptrend or down trend mode of btc, usually altcoins will follow and that is just the way it is. Usually, people investing from ICO after selling, this will be then exchange to the bitcoin currency and have it stayed to this currency for good while waiting btc to increase.
Even though some of the altcoins have no good use, they are still being to store in the wallets and later used when the market is in a dip, people switch to bitcoins. this is just a vicious cycle and that’s how things have been going unexplained in the market.
that is not called "use", it is called speculation. and although you can call trading for short term aka pump and dump some sort of usage but it really isn't in the real world.
what happens is that people only get involved with altcoins because they want to make profit, and when they see pumps they get more excited to join because there is a bigger profit to be made.
Even though some of the altcoins have no good use, they are still being to store in the wallets and later used when the market is in a dip, people switch to bitcoins. this is just a vicious cycle and that’s how things have been going unexplained in the market.
In a bull market they tend to rise more than bitcoin: hence in a bull market the bitcoin dominance tends to lower.
Conversely in a bear market those coins tend to drop faster than bitcoin: the bitcoin dominance tends to rise.
it is not only about the speed of rise/drop. it is about the fact that there is only 1 bitcoin which is going against 1700 altcoins. that is why calling it "dominance" is wrong to begin with. if altcoins were good then the real dominance of bitcoin should have been 0.05% instead of forty something! being at forty... just proves that altcoins are indeed shitcoinsConversely in a bear market those coins tend to drop faster than bitcoin: the bitcoin dominance tends to rise.
I only found more interesting the first derivative of the dominance to the bitcoin price, rather than the value of dominance.
But you are correct and I do agree!
Will you ever see this post?
My two cents,
F1
unfortunately bitcointalk does not have the option to give you an alert or something whenever one of your comments is quoted so usually people miss it unless they manually go back to the topics and check the replies to see it for themselves. which I happened to do right now.
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