Topic: Why Altcoin prices often follow Bitcoin price - page 9. (Read 2325 times)
The course of many altcoins follows the BTC, this is a normal situation. After all, the main coin of the market became the basis for the formation of the courses of many other coins.
May be it is because all alts are trading against bitcoin and orders are agaist bitcoin, so when bitcoin price to dollar changes, altcoin price to dollar also changes. But may be I wrong. 
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?
Not all altcoins, but if you imagine that there are no significant events for given altcoin, it's very likely its price will follow bitcoin movement. It's natural because mostly the updates on bitcoin regulation etc directly apply to altcoins either
Actually kucoin is a nice and easy exchange to use but there is a curse on kucoin, listed coin falls low
Also noticed that with the decrease in the price of BTC cheaper and some other coins. After all, this is actually the market leader, which stabilizes the price in the crypto 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?
BTC is the first currency of crypto. Enjoys wide popularity with a huge margin. Therefore, it has an advantage in the market, as the price of BTC increases, so does the cost of many other coins.
I had been observing the cryptomarket for almost 6 months now and I usually observe the same thing if bitcoin goes up, every altcoins will dramatically follow. I believe that altcoins and bitcoin are correlated with the other where Bitcoin is the baseline for every market movement in the crypto world and I believe that my observation is near from the actual situation. My thoughts though.
because bitcoin also requires bitcoin so altcoin also requires bitcoin because both coins need each other and thus if bitcoin is down and altcoin also follow its movement because of the parent bitcoin of all altcoin
Undoubtedly, by and large, altcoin's depend on the "big daddy" of BTC, although it happens quite the contrary, as they said earlier . Most altcoin's I believe is also dependent on Ethereum. I do not have enough experience to say for sure, I only delve into the cryptocurrency market every day and am glad to learn to understand it. If somewhere is wrong, then correct me!)
Indeed it is a strange behavior, because normally when one asset rises, the others have to go down with respect to the one that rises. Perhaps its one of the many mysteries of crypto currencies.
Virtuallly because btc is the king of crypto and it sets the trajectory or pace for other cryptos to to follow. Look forward to a day alts price wont have to be dependent on btc but it obvious it is not now.
it is a very easy question to answer. as we know, bitcoin is the parent of altcoin, so the benchmark of altcoin prices is bitcoin. if bitcoin prices are in trouble, so auto altcoin prices will also be problematic, vice versa.
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 think altcoin price following bitcoin price because bitcoin have biggest market cap in the market and when bitcoin price drop, many investor will worry about altcoin and start to selling too. Investor always make bitcoin as bencmark in cryptomarket and I think thats affecting on altcoin
The question is interesting. I havent thought the reason yet but unfortunately altcoins depend on Bitcoin which makes me angry. There must be more indicators other than Bitcoin or buy-sell balance.
Most altcoins prices or values are depending on Bitcoin like many currencies depend on the value of dollar they are in similar way so you can't say that some altcoins can snap the position of the Bitcoin as the top with the top price.
The price of altcoins in this market always depends on the Bitcoin price is understandable because Bitcoin is currently the number 1 market as well as the highest exchange rate in the market. Thus the exchange rate of the entire cryptos will depend on Bitcoin rates. If the exchange rate of BTC decreases, altcoins increase and altcoins increase, BTC will decrease.
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?
It is bound by one simple reason, bitcoin it's a currency in the whole cryptocurrency market and all the coins are traded in pairs with him so we have such a situation
Altcoins are all paired up with bitcoin in their trading pairs which the reason why the price of bitcoin affects the price of altcoins so much. When the transaction volume for bitcoin decreases then that also means that the amount of bitcoin being used for trading has decrease and makes the prices of altcoins drop
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?
The same question that comes to my mind. What you mentioned is something I am observing. What exactly is the relationship of bitcoin and altcoin seen from the price so that altcoin is seen as the tail of bitcoin. I think maybe it's connected because of the demand and the sale of both. When bitcoin prices are high, many investors are trying to invest in altcoin to take advantage of the situation.
Well, the answer is plain and simple: because Bitcoin is the top dog, the original, the first, the chosen one, whatever you want to call it. It is the biggest price and biggest influencer due to it being most widely used as crypto currency.
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