Bitcoin Forum

I noticed on coinmarketcap that many cryptocurrencies follows almost same graph as Bitcoin.

What is the reason behind this in your own opinion ?

That's because the coin coins do not want to disappear, I also feel strange on coins like bitcoin cash and bitcoin gold, the coin has a high enough price, whereas the coin is rarely used.

I think that's because Altcoins are mostly traded in Bitcoin/Altcoin pairs and if Fiat price of Bitcoin falls, then the Fiat price of the Altcoins will fall in almost the same amount

Bitcoin serve as a role model altcoins follows almost all  it's processing this is a good  example of cryptocurrencies have teamwork for a better future of digital currency they separate ways of promotion in return bitcoin and altcoins has a strong foundation to remain in the industry world.

Because most of the time bitcoin affects people's confidence.
If bitcoin falls significantly, people will lose confidence, and other altcoin will be sold at this time, causing the whole market to fall or rise synchronously.

Because BTC is the top coin being traded for other alts in terms of market cap, volume, and general popularity, it is thus at the center of the crypto economy and has some gravity behind it (enough gravity to have an almost constant relationship with alt prices).

we could not deny that btc gather the biggest money in the marketplace thus any movement to this coin could greatly influence the marketprice..

Firstly, Bitcoin still enjoys the no.1 position even with the advent of 1600+ cryptocurrencies. It emerges as the first choice of investors despite of its limitations and high price. Its high popularity makes people think that the other coins will also follow the same trend.

Bitcoin is considered as the base and altcoins as derivatives. Though better but still the successors. There isn't any technical reason behind your question, it's the behavior of traders which makes this happen.

because the price of bitcoin does affect everyone and their wills to sell or hold, which leading to affect other coins, too.

Every coin is traded against bitcoin so whenever there will be big drop in bitcoin's price, every altcoin's price in terms of USD will go down.

Similarly when people start to sell their altcoins for bitcoin to exit with USD out of panic during such drop, altcoin also losses price in terms of bitcoin which make is loss more in terms of USD compared to what bitcoin have lost in last 24 hour.

Bitcoin is the parent of all Cryptocurrency currencies, so I'm not surprised if its prices often follow the bitcoin price chart. and I think this is a long time ago. bitcoin up, altcoin go up. Bitcoin down, altcoin also come down.

You have to understand who come in the market 1st btc there is no confusions also most of them are following btc because it is the father of crypto market based on this many new coin still doing their graph based on btc and btc is the unique coin also and this have good profit.

It is because other crypto currencies is created based on the bitcoin, because bitcoin is the first crypto currency and it is the most trusted and profitable of all crypto currencies, it was like a living legend in terms of digital currency. Its good when other cryptos follow the path of bitcoin, because there are more lot profitable coins that we can invest and get big profit.

Bitcoin is basically the large ship and the rest of the Altcoins are the small ships that follow it.
If Bitcoin falls, everything falls with it.

Probably it is because the arising cryptos were almost the same with bitcoins wherein they introduce themselves as the improve version of Bitcoin. In these idea I believe that it is possible that someday Bitcoin will be beaten by other alts. Some candidates in beating the leading cryto were litecoin, ETH and ripple. It is not surprising someday if all those Bitcoin fans will be go to the said alts.

Don't know why it is so that altcoin prices always go down whenever bitcoin collapses. It should be that both go in the opposite direction. Atleast, this will enable traders buy altcoins whenever bitcoin is down.

It's probably yes. I think most of other cryptos are base and depends on bitcoin movements so if bitcoin are suffered in dumps, for sure that some of other cryptos are also in dump period. There are a lot of proof that some cryptos are has the same movements of bitcoin in the market. Most of those cryptos has the same movements of Bitcoin is none other than altcoins.

Think of it this way, if a restaurant offers chicken for their meal and there's a bird flu virus, chances are all resto's offering chicken would have lower sales.

The restaurants will be the other cryptocurrencies and bitcoin will be the chicken, as bitcoin was known to be the most popular cryptocurrency.

After inventing bitcoin the value of btc is very high that’s why they still holding 1st position in the market based on this many coins come in the market but all coins are followed by btc because btc is the main leader of crypto market and this have good future value which they give to their customers.

What I witnessed before was like that. Bitcoin's movement is opposing to the movement of altcoin charts.

But today it's different, I don't know the exact reason on the changes with the flow of crypto's but these alts are dependable to bitcoin. And if there's an all time high to bitcoin, alts are also in that phase. You can get an example of it last time when bitcoin's price was $19,000.

Usually altcoin follow bitcoin based value except if some altcoin experience uptrend , it means that the demand for that altcoin has increase and may compete bitcoin in the future.

So yeah.. it's depend on supply and demand overall !

Bitcoin is the reference for cryptos, and its price ends up influencing the whole market, the most traded pair is usually altcoin / BTC, there are few pairs in fiat that have an expressive volume, and this explains much of Bitcoin's influence on other currencies. Maybe in the future this will change a bit, but Bitcoin remains the main driver of this market.

Bitcoin is the oldest and the most powerful crypto currency. So, the price fluctuation of other currencies also depend on bitcoin. As the price is lower for bitcoin now, the prices are lower for other coins too.

99% of cryptocurrency to fiat exchangers only exchange Bitcoin or Ethereum directly to fiat. Bitcoin is use as a  base to know the worth of any altcoins.

In my own study, I think it is true that some of other cryptos are definitely depends in the movements of bitcoin most specially are altcoins. As we can see, if bitcoin is in the downfall season, altcoins is in the same way too maybe because btc is the founder and the king of crypto that's why some of cryptos are making the same movements of bitcoin.

You should have understood, Bitcoin became a center for altcoin. if you want to know the movement of coins in the long run or short term, you only need to look at bitcoin charts last year so you can definitely read the market price.
I myself have proved it.
but keep in mind about altcoin, increase and decrease in altcoin prices can be fast and can be slow following bitcoin prices.

I think yes that's true that was also I've been notice. When bitcoin goes down some other cryptos are going down too and when btc is pump they are also pump. Maybe they are really depends on bitcoin movements because they know that it has a strong foundation and good potential in the crypto market so that's why they follow it's movements so they can also be successful in the market.

well, bitcoin still leading on the market. most of the coin price depends on bitcoin. shouldnt be bigger case if ethereum as main trading crypto.

no, they don't follow bitcoin graphs/charts. what happens is that when bitcoin drops the altcoins drop too so that may have created the illusion that they are following bitcoin but the fact is they really aren't. for example even in drops they are dropping so much faster and bigger than bitcoin. it is not just a small drop like bitcoin had, each of them dropped at least 10-15% where bitcoin dropped only 5%
and as for the other side of the chart, which is the rise, they never follow bitcoin. bitcoin rises while altcoins drop some times and some times they just stagnate until bitcoin stabilizes so they can take their chances for a short term pump.

its common things and already happen long time ago, bitcoin does have big impact on cryptocurrency  value. I believe the reasons behind this cause bitcoin has a big dominance when bitcoin drops marketcap drop so much and it makes investors afraid and also make a panic sell.

they are not exactly following bitcoin though but everything starts and ends with bitcoin.

the thing is every person that has ever started with cryptocurrencies has seen bitcoin first and wants to own bitcoin. so what they do is that they start reading up about bitcoin and then buy some. but in this process they are exposed to a lot of advertisement telling them how they can buy the "next best thing" or ever sometimes they see "better than bitcoin" advertisements which is luring them into altcoin traps so we end up with a lot of newcomers who have come for bitcoin but went into altcoins with the hopes to make a lot of money.

in other words when bitcoin is growing it attracts a lot of these newbies and these newbies invest some or all of their money into altcoins which may seem like they are following bitcoin but they are not because their rises have always been temporary pumps since the market makers always dump on their heads and get out with their pockets filled with a lot of money which they inject into bitcoin and become so much richer.

Yes it does and it is the tradition since a very long time. All the alts follow bitcoin and bitcoin has a huge influence over the market. So to keep the market in a good condition a special care of bitcoin is a must.

Yes, you are right. The price of other altcoins is dependent on Bitcoin. When the price of Bitcoin falls, the price of altcoins also drops as well.

This is normal, and I think Bitcoin is the mainstay of cryptocurrency. It will naturally decline, while others will decline. Bitcoin dominates the entire market.

Unfortunately, this is still so, I hope that bitcoin dominance will decrease, because it hinders the development of other coins. I believe that there should not be such a strong correlation.

This question has already been asked so many times. You can use the search box to find more relevant answers.
The simple reason behind this is that BTC is the major pair of almost all the cryptocurrencies. Being the first cryptocurrency it has been used to pair with all the fiat currencies as well as cryptocurrencies(altcoins). Whenever the price of BTC falls down, the price of altcoins in terms of fiat will fall down too.
People also panic and sell their altcoins when BTC falls which leads to further decline in their price in terms of BTC as well as fiat.

In thousand of crypto currency it will expected to have the same graph of Bitcoin but they are not coppied the good feature and good price value of bitcoin. Good promesis they expect to get is not reachable but all you want to get through Bitcoin is always available.

This is simply because Bitcoin is number one and all other coins tend to follow its market trend .Most times, Bitcoin also affects other coins and they fall Also and vice-versa. So its just a simple analogy.

Altcoins follow bitcoin as trades are held on their basis, that is, in the pair bitcoin\altcoins . Similarly, with most altcoins paired with Ethereum, the problem is identical.

The main reason is that the purpose of the investors diverting their assets to altcoin is to get more bitcoin so that altcoin prices follow and may even always be the same graph like bitcoin unless there is a new altcoin that can actually be separated and not bound by bitcoin, the altcoin completely stand alone without seeing any other coins. For that reason, then do not be surprised when bitcoin experiences movement either up or down then altcoin will follow the movement of bitcoin.

In crypto world everything is connected to btc.
Many true crypto trader trade only for bitcoin, she dont calculate their income in usd.
But when all top coins falling some new project rise up

In fact that was a truth behind the movements in the market. Most of the other cypto currency are considering depended in the movements of bitcoin and most of this coins are altcoins. When the movements of btc are in down trend thus the other crypto are automatically in down trend also and when the btc movements are starting going up the others are going up too.

Bitcoins is the major cryptocurrency that almost all altcoins are paired with. The volume of bitcoins is so huge that any movement it take, other coins that is paired to it also goes the same direction. I think bitcoin can be use as indicator to trade other alternative currencies.

I agree with the subject wherein for every rise and every drop mostly depend on bitcoin's performance in the market. This is what usually happens in the crypto market where btc is the baseline for any movement in the market. Bitcoin and altcoins are correlated with the other where you can notice that for every bear and bull market, the performance of both btc and alts are directly proportional to one another.

i don't know the exact reasons why if bitcoin price fall then altcoins also will following bitcoin but in my opinion this is happened with many times because when the price fall then people also will dumped their altcoins too following bitcoin that's why altcoins will always following bitcoin price movement

probably because the bitcoin factor becomes central to all types of altcoin, hence it seems as though other coin charts could be similar to bitcoin.

you know what, sometimes you don't even need to know the reason for it! you just have to know that when bitcoin goes down, altcoins get dumped right afterwards. this can create a lot of good trading strategies for you. for example you place a watcher on bitcoin price and as soon as you see the drop (within seconds) you short altcoins and wait for them to reach the bottom and have a dead cat bounce to make another quick profit.

I don’t think that all other crypto currencies can follow the same graph as possessed by bitcoin. Bitcoin is very sustainable and versatile crypto currency and the growth curve of bitcoin is almost a ascending straight line which means that the growth of bitcoin is very high comparatively to all other crypto currencies so I don’t think that the growth graph of all the crypto currencies can resemble to that of bitcoin because if we look at the valuation then also bitcoin is leading all the crypto currencies.

This just tells us that bitcoin is the KING of crypto and I don't see any coin overtaking it. Bitcoin will always rise when it falls unlike some altcoins which remains stable and that's the end.

This is what usually happens in the crypto market where btc is the baseline for any movement in the market.All the alts follow bitcoin and bitcoin has a huge influence over the market.

I think this is the real reason behind this. Many crypto traders in the world needs to exchange their local currency for bitcoin before they can buy their crypto. Ofcourse in effect, whenever bitcoin falls every other altcoins that depends on it will also fall but I'm not saying that all of the altcoins because there are altcoins that resist this kind of bearish trend of bitcoin.

because almost all of the altcoins traded, are converted to bitcoin.
it's no wonder that bitcoin falls all altcoins also follow bitcoin. the point is all determined by bitcoin.