Bitcoin Forum

Im a N00b.  I noticed that most of the top altcoins price went down when btc price went down.  I bought some bitcoins so i can buy some NEM.  I was wondering if I should wait a little while for the price of btc to go back up or would that mean that NEM prices would most likely go up too?

All this altcoins are depending in the Bitcoin's price generally. Bitcoin is the first and the most used , and the most valuable crypto currency ever, so it is normal that all the other crypto currencies values get affected by the bitcoin's price chart, either going up or down.

The value of all altcoins, crypto and ICO's are derived from the value of bitcoin.

It might be fair to say crypto is backed by bitcoin, the way that fiat paper money is backed by gold reserves kept in vaults.

When the price of bitcoin fluctuates, the value of all other crypto/alt/ico shifts with it as bitcoin is the standard by which everything else is judged.

Technically, each coin is supposed to be individual and its own market. However, what happens is that bitcoin's value impacts the values of other altcoins and cryptocurrencies. Remember that Bitcoin has the largest market cap out of any other coin created, and it's by a significant margin too. With this in mind, when you see bitcoin dropping or rising, chances are, altcoins will too.

Interesting question. I know Bitcoin price affects all other AltCoins price as everyone here said.

But why?

Bitcoin is the king of altcoin,Bitcoin greatly affects the price of altcoin,
So don't be surprised if altcoin prices depend on bitcoin,

You're going to buy NEM? Wow. You really are a n00b. Maybe look up what their real world purpose is. Aren't they also heavily pre-mined or am I thinking of many other alts out there?

Bitcoins are king so when bitcoins drop altcoins will almost certainly drop even harder 90% of the time. They're bitcoins with 50%-100% more risk basically is how I see them.

the bitcoin value really influence most of alts value, it seems to be like that by now, if i remember correctly, before we are waiting for btc value to fell
in order for us to see the price of alts to rise that's a year ago but this year we've seen that every downfall alts also falling i'm not sure now it there's
relevance just be very careful before buying anything.

i think its because bitcoin is still for adjustment for the other altcoins and no matter bitcoin is up and down, the altcoin will be followed but for some other altcoin, the price is not follow bitcoin. if you can see in other market like yobit, bleutrade, c-cex, hitbtc and else, if btc is down, some of altcoin is increase but the most altcoin especially in top 50-100 is going to down.

Doesn't it depend on the paired currency of an altcoin. So xx/BTC depends on BTC value, xx/ETH depends on ETH value and so forth

I think bitcoin has no direct control of other altcoins. However, in my observation most altcoins follow bitcoin. If bitcoin goes up then most altcoins tend to go up.

It's because the value of bitcoins is down but we cannot tell that bitcoins control all alts since bitcoins is far different among them but the only contribution for bitcoins with alts are the price of it is been calculated with the bits that's why you can see that altcoins are in red days when btc value is red also.

No and yes, almost all the actions are traded against bitcoins. It happens that whenever the bitcoin price tanks, that of altcoins follow. This is as far bitcoin influences other altcoins.

I would rather say that people are actually are undecided whom to believe, there is still many doubts that Bitcoin is scam, which will evaporate over time. But til then we must stay strong and hold. So i cannot say BTC is in full control, more like fear from loosing money - panic is worst enemy. You can see that strong community projects such as Monero records growth, for example. Then we cannot point finger at BTC as guilty one. Main problem here is we have lot of new members who are attracted here by good stories about profit overnight..Yes they are those who feeding whales..

Actually in general when altcoin prices go down, btc price goes up.
But latest situation killed lot of cryptoinvestors' money so they just turned into fiat money. This was rare to happen anyways.

Technically speaking all altcoins is not controlled directly by btc but some of their prices can be predicted when btc falls or rises just because they are only used for speculations to earn more btc and has no real world use. If I were you, I wouldn't wait to buy NEM based on btc price but rather I will look to buy into NEM when it's conversion to btc goes down.

Rather than controlling all altcoins, it will be better to say that bitcoin reflects all positive and negative effects that have an impact on itself to altcoins normally as it is 50% of the total market cap.

Bitcoin doesn't control other coins but the trends of bitcoin often reflect the mood of the whole market, if confidence is high in bitcoin it will be high in altcoins and prices will rise and vice versa.

bitcoin not control other altcoin
but all altcoin, or demand in market follow bitcoin price

i think so, its mother of coin...but maybe cant also... if we see the currency USD is the main...but still not depend on USD...who knows in future other coin will lead instead of btc...just my cent  ;D ;D ;D

i think it will be different if the altcoin is compared to the fiat price in the market, for example etherum / USD, although bitcoin price rises does not mean the price of etherum to the dollar will decrease, i think it will depend on the exchange rate you will choose, because it is very possible when bitcoin prices fall instead of etherum strengthened in dollar, not always affected by bitcoin rate

Yes, in my opinion Bitcoin controls other alts with upwards or downwards trends. If a crash happens alts try to survive. And once a big crash happens almost all alts struggle.

Not all altcoins rise or drop together with Bitcoin, but most of them do, that's right. I think the reason for that is not that bitcoin "controls" other cryptos but rather that they are traded for BTC on most exchanges and if a coin costs 0.003 BTC for example and the price of 1 BTC in USD rises or falls the price of the coin in question rises or falls subsequently. But, as I said, not all altcoins behave like that. Some of them are heavily pumped in a particular period of time and some of them are really promising and that's why more people want to buy them and their price rises.

I don't know for what reasons you want to invest in NEM, but I would recommend you to research IOTA (MIOTA), because my sister, who knows abouts altcoins much more than I do, says that this coin has a really great potential in the years to come.

I suppose that we compair altcoins with BTC. And othe coins want to rich the success like BTC and they correspond to it nonetheless.

Yes, there is a big impact on altcoin when the price of Bitcoin is reducing and previously even I didn't agree with that but later when started trading I understand that Bitcoin impact is there on altcoins.

Almost all altcoins are traded through BTC, so it's no surprise that bitcoin price reflect alstcoin's

well since btc is mostly an indicator of the price for altcoins it kind of affects the price

Yes Bitcoin is the father of all crypto currencies. The value of Bitcoin when increases so alt coin also increases and when it goes down so price of altcoin decreases the same way because all crypto currencies mostly are exchanged with bitcoins. so they are dependant mostly on bitcoin.

Hence the connected value of most altcoins with the value of BTC I think it’s good to have coins in your portfolio which grow relatively faster than BTC.

Which tools, knowledge, graphs,… can help me to make an assumption on which coins will grow relatively faster vs BTC?

Bitcoin is historically the first crypto. Other crypto currencies were initially focused on Bitcoin. But now most altcoins are technically different from Bitcoin. Altcoins can be used the same way as Bitcoin and also in other ways. That means they are more useful then Bitcoin, and probably someday they will be able to surpass Bitcoin. This is often the reason why people invest in altcoins.I don`t think Bitcoin controls a lot of other alcoins now, but it`s still the most profitable and the safest. Therefore, he was and remains the leader of the crypto currencies.

No. It does not.

But what I've noticed is that the market in general tends to follow Bitcoin in the short term. For instance if BTC drops today, the market will probably as well.

I think btc doesn't control value altcoins. Only, investors that invest alot on btc. So, when many Btc holders sell out on huge quantities. Then investors altcoin automatically exchange, so seems btc controls altcoins.

Over 98% of altcoins are been controlled by bitcoin , I have been following bitcoin price and almost all the altcoins and as a professional traders I can tell you that when you see bitcoin falling most of the altcoins also become bearish. To call  but a few we have the following altcoins that  are sympathetic to bitcoin: ethereum, litecoin, ripple, zcash, neo, wave and so many others.

The impact that the price of bitcoin have on alt is related to the large volume alt and the popular ones. I have traded Alt that are not so popular and the effect of whether btc increases or decreases does not matter. However, for coins such as ETH or Dash, it is expected that when bitcoin takes a hit, their own price takes a bash because rather than running their own race, they tend to want to outshine the king.

You gave the answer for your own question. There is a normal movement of money in crypto. People usually buy BTC and then begin to get interest in the other coins and move from BTC to them. So they depend a lot on BTC movement. In time ETH, for example, that can already be easily purchased from fiat and as it´s very own "ICO" ecosystem may start to move more independitly. But for the time being it´s BTC that is determining the market movements in all of cryptoland.

Those people who still believe that bitcoins are scam, never ever going to reach their high goals in their lives with luxurious lifestyle. Bitcoins are a divine gift and many people are meeting their financial needs with bitcoins. Bitcoins are never ever going to get anyone scammed provided he is not working with scammers.

after all the altcoins are in some way dependent to bitcoin. I think it is necessary to be dependent. the value of the altcoins is the dollar equivalent.but when we want to turn it into real money, we need to convert it to bitcoin..even this shows the dependence of altcoins to bitcoin..As a result, bitcoin is the head of all cryptomoney world. so I think it deserves a certain respect.  and the answer to the question you  asked was yes. bitcoin controls many altcoins.


 

A valid analogy to make noobs understand the situation is to think as Bitcoin as the engine of the entire cryptomarket. Without bitcoin, the trust on crypto as a whole would simply disappear. Im sure due the traction of the current hype on crypto, it's own inertia would keep it going for a while, but if bitcoin had a fatal flaw, the crash would be serious on ALL coins.

Luckily for us, BTC is as safe as it gets, so similarly, when it goes up, the strongest alts also recover, but most people will want to sell alts during a BTC rise, so you much choose carefully.

Yes and no. Every coin has its own destiny and course to follow, but because bitcoin is the most traded coin, with more volume in exchanges, it tends to impact prices a bit if exchanged for a particular coin.

Very honestly i think yes that bitcoin is controlling a lot of other altcoins. because for most of the altcoin to trade them we depend on it for bitcoin, On other side bitcoin is the main currency which we use for different purposes even for buying altcoin and when we want to sell altcoin we even do trade and convert the altcoin into bitcoin again.

If bitcoin will not control other altcoins, its supply will become lesser and trading investments might be so expensive if not regulated. Although bitcoin can be trade to buy altcoins, but the main reasons why the price of those alts became more volatile that bitcoin even if their both digital; its because of demand of it's current price value in every alts. Different purposes always been applied and the markets will have to earn those profit of different trades of alts directly to bitcoin.

I am not really familiar how bitcoin works, and how bitcoin dominates all the other coins. In a perfect world, Bitcoin would  compete with other coins for prestige, imagining a race to the moon not just for bitcoin but for all the coins. Possibly if 70% of the world's crypto market switched to some shit coin with good features then we MIGHT expect an imbalance to happen, forcing bitcoin to compete.

Bitcoin dominates other because the bitcoin has used by all of the altcoin to be the main pair to their coin, as you can see that already listed in all of the excahnge site which it can be considerable as the farther of crypto

Yes 100%, because a lot of coins are traded against the value of Bitcoin itself, so if Bitcoin drops so do the altcoins!

 Yes its true , all of the altcoin are depending to the value of bitcoin. In addition to that bitcoin is the heart of digital currency.
But not because that the ALT is depends on BTC, it is not mean that bitcoin can control everything. Altcoin still have a chance to overpass the and create his legacy in digital world.

Altcoins going down when BTC is going down is just one possibility in the movements of cryptos. There are also times that when BTC is bullish, all the altcoins will be painted red all over. There are several possibilities in terms of effects. It is best if you try weigh the maximum advantage to your side depending on the situation.

yes bitcoin control a lot of the altcoin but not all of altcoin because some of altcoin is not affected if bitcoin is up or down. we can see in bittrex that there is many altcoin especially with the ethereum base, its not affected of bitcoin price. but until now bitcoin is for adjustment for the a lot of altcoin price so whenever bitcoin price is change, the altcoin price will be following.

Every coin has its own individual value in the market, bitcoin means just bitcoin and nothing else and same is the case with other coins, but yes it is the case that change value of bitcoins , induces a change in the value of every other crypto currency with no exceptions.

I noticed that too.
I don't want to have all the coins to convert to another currency in the later route though if that has to happen the so be it.

Simple thinking, when the price of BTC rises then all oang want to take the opportunity to get BTC. this affects altcoin as they release it and go to the desired price.
Traders are finding it increasingly difficult to predict the relationship between BTC and Altcoin.

Not always, obviously bitcoin is a very dominant coin but this is not always the case, the last drop in price did not happened because of bitcoin it was because of the China news that banned icos and that had a big impact since a lot of money moves in icos and that also had the effect of the Chinese investors panicking and selling their bitcoins and most of their altcoins as well. 

It is because as bitcoin drops in value people panic and sell their altcoin to get bitcoin to sell into fiat. Selling = price drop so when bitcoin price drops other altcoins also drop in general.

Each altcoin belongs to a project. That is why their growth is independent from bitcoin's movement in value. Even if bitcoin goes down, if the project of a particular altcoin looks very promising and new big partnerships are happening, it will still grow in value. However, there is a possibility that your overall portfolio value is going down because of bitcoin's price. 

Its being observed that most of the altcoins price does change as per the btc price movement. As the btc price increases so does the other altcoins keep up and vie versa.  This I feel happen due to other coins were born after the bitcoin or due to bitcoin it resulted in other altcoin so invariably other coins is depended sort of on bitcoin price.

I think bitcoin was not control other altcoins, but almost all crypto currency value or prices was depending on bitcoin. Because as per observation when bitcoin value increasing up the value of altcoins is going down and when bitcoin going down the prices of all altcoins in the market was strength growing up. Maybe their price was affected each one but it does not means that bitcoin control altcoins.

The values of all the coin are dependent on bitcoin.Not only bitcoin if you watch carefully you can see that some of the coins goes up and downs with the eth with also. That doesn't mean that bitcoin controls them but the values are related to other.

presently really a lot of altcoins are influenced by bitcoin. I really wonder when this ends...

In fact, it is difficult to say. Many altcoins do have a direct correlation with bitcoin, but many altcoins are rising when bitcoin is falling. I think in the case of XEM there is a direct correlation .

Your scenario is never going to happen, for that change to happen in the minds of the people that coin will need to be very good and not a shit coin, besides bitcoin has been competing with the rest of the crypto market when the first alt was created and it is very obvious what the people are saying, we prefer bitcoin over any alt that exits at the moment.