Topic: Why Altcoin prices often follow Bitcoin price - page 11. (Read 2325 times)
for the common folk they are like brothers. and people assume that whatever affects this coin should surely affect that coin. those assumptions create beliefs which in turn fluctuate the market
In my opinion, altcoins rise in line with bitcoin because once the trading altcoins mostly depends on bitcoin trade too. The day traders I believe use bitcoin or their altcoin trade and once the trade volume of bitcoin rises, those altcoins rise too.
Because most of the altcoins are traded with Bitcoin. Not many have fiat pairs.
Because Bitcoin is 1st crypto currency that's why whenever Bitcoin has good news and in green market for some weeks all altcoin traders start buy altcoin they like it's the main reason to altcoin following Bitcoin ralley.
Do they really? I often encounter this statement. And i have no idea as to why. This past few days, bitcoin is on the rise and most certainly than not altcoin's price surely follows. I am not saying this is bad but altcoins have very little in common with bitcoin. And they are certainly not carbon copies of bitcoin either. Why the heck is their price so closely connected despite being so fundamentally different?
Because BTC makes trend its like Gold but in crypto sphere, it is main standard for all coins and if it goes up the whole market follows and and if it goes down all other coins are falling faster than it. 
Robert Shiller described phenomenon like that in his most popular book. Explore "Irrational Exuberance" for yourself.
I want to say, alt-coin prices often follow bitcoin price because, once value in btc drops; it outrightly affects altcoins prices and this forces people to dump.
For example, if bitcoin is 8000$, ELF is 1.5$ - 3$
Then if bitcoin drops to 7400$, ELF goes to 0.6$ - 1$
circumstances as above, would always diminish values of altcoin, thereby causing an unprecedented dump
For example, if bitcoin is 8000$, ELF is 1.5$ - 3$
Then if bitcoin drops to 7400$, ELF goes to 0.6$ - 1$
circumstances as above, would always diminish values of altcoin, thereby causing an unprecedented dump
can seem like no matter what happens, the major altcoin prices follow Bitcoin's price, even when it is illogical. We ask, “why?!” UPDATE FEBRUARY 2018: The article below was written in October 2017 when Bitcoin was outpacing alts after a market-wide correction. It was then updated in December 2017 ...
It doesn't always happen. Sometimes bitcoin is falling and alts are going up, like in January 2018. Yet the tendency of it being the case is usually observed when the bitcoin's marketcap dominance is high or increasing. This happens during bad times when the market is bleeding. People tend in such cases to trust only btc and sell everything else more than bitcoin. When btc get stable on a reasonable price, other coins might trigger the upper movement. For instance, this month we saw IOTA, Ethereum, Ripple and Eos moving up at different time, encouraging other coins to go up a bit as well. Do they really? I often encounter this statement. And i have no idea as to why. This past few days, bitcoin is on the rise and most certainly than not altcoin's price surely follows. I am not saying this is bad but altcoins have very little in common with bitcoin. And they are certainly not carbon copies of bitcoin either. Why the heck is their price so closely connected despite being so fundamentally different?
We can't deny that all altcoins were dependent on bitcoin in terms of price because it has a big market cap and users. Therefore whatever changes in its value will affect another coin as it is the barometer of the stability of cryptocurrency in the market. 
Do they really? I often encounter this statement. And i have no idea as to why. This past few days, bitcoin is on the rise and most certainly than not altcoin's price surely follows. I am not saying this is bad but altcoins have very little in common with bitcoin. And they are certainly not carbon copies of bitcoin either. Why the heck is their price so closely connected despite being so fundamentally different?
Everyone knows that bitcoin is the most popular digital currency and is now the benchmark for everything related to the crypto world. So it's not unusual when altcoin prices always change when bitcoin prices move. This is indeed a normal thing to happen, altcoin prices will always follow bitcoin prices. Bitcoin remains the best and may now be said to be usd dollars, as in the real world that usd dollars always be the benchmark of various values in the world's Finance system.
because altcoin exists before bitcoin and altcoin are heavily dependent on bitcoin. altcoin and bitcoin are connected. and altcoin can not live without bitcoin because all altcoin is sold to bitcoin so altcoin price is very influential to bitcoin.
other than that because when bitcoin goes down then there will be public panic to sell their altcoin assets and as more and more people are selling their assets eating this will cause altcoin down
other than that because when bitcoin goes down then there will be public panic to sell their altcoin assets and as more and more people are selling their assets eating this will cause altcoin down
Bitcoin is like king and all altcoins must follow it, this is the cryptomarket principle. That is because people selling bitcoin for altcoins and conversely. The market has been working since the beginning and this principle has to be preserved, you just have to get used to it
This is really hard to answer, the first one altcoin grows thanks to the capital mobilization, the capital mobilization from the ICO projects are based on the BTC to buy and sell, people see the BTC is the king of the market Crypto, as the price of BTC fluctuates, other investors fear altcoin and they also sell on the market, so the altcoin prices have fallen.
If bitcoin prices rise, then there are some altcoins that could potentially experience price increases as well, cause, maybe a lot of selling altcoin to bitcoin which resulted in altcoin prices go up. As demand rises or more, there will be price increases.
Cuz Bitcoin is the only gateway between fiat and other altcoins(especially with small cap),everybody use it to trade with alts
And it`s psychology, when btc is in correction,people think that alts`ll go down too,and sell, very simple market:)
And it`s psychology, when btc is in correction,people think that alts`ll go down too,and sell, very simple market:)
It is definitely psychological. Bitcoin carries whole weight of the market on its shoulders. Its strength gives people relaxed position so they divide their money on different altcoins and pump them higher. Sure of it.
Do they really? I often encounter this statement. And i have no idea as to why. This past few days, bitcoin is on the rise and most certainly than not altcoin's price surely follows. I am not saying this is bad but altcoins have very little in common with bitcoin. And they are certainly not carbon copies of bitcoin either. Why the heck is their price so closely connected despite being so fundamentally different?
I really do not know about this, but I see the price of BTC is decided on the Crypto market. If the price of BTC is high, other altcoin also increased in price and vice versa. Perhaps BTC is king in the Crypto market.I noticed this as well. So it's generally a safe plan to follow BTC and trade your altcoins accordingly.
Do they really? I often encounter this statement. And i have no idea as to why. This past few days, bitcoin is on the rise and most certainly than not altcoin's price surely follows. I am not saying this is bad but altcoins have very little in common with bitcoin. And they are certainly not carbon copies of bitcoin either. Why the heck is their price so closely connected despite being so fundamentally different?
I really do not know about this, but I see the price of BTC is decided on the Crypto market. If the price of BTC is high, other altcoin also increased in price and vice versa. Perhaps BTC is king in the Crypto market. Do they really?
the reason for it does not matter at all, although you can speculate about it as much as you like and it is interesting to think about it.
this first question of yours is the important part. and yes they do follow bitcoin downwards but not always upwards. this is the thing you need to remember which means if bitcoin falls they will fall but if bitcoin rises they don't necessarily follow it up.
knowing this, you can adjust your strategies and make a lot of profit. for example if you see bitcoin drop you can short ethereum and other big coins and make a lot of money.
Most of the exchanges have BTC/Alt pairs and Even with ethereum. The problem is the market cap, When BTC price up, People going invest in altcoins. When BTC price down Altcoins dump. Becuase People are panicked with the market. Even Eth price going down with BTC.Most exchanges not having USD/Altcoins pairs.If more and more USD/Altcoins available, Altcoins prices will be stable in the cryptocurrency market.
Still, BTC is market giant, People believe strongly.
Still, BTC is market giant, People believe strongly.
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