The effect of Bitcoin growth on other currencies in the crypto market

[Antotena]

For the past few years all attention of higher purchase of crypto currencies have been on Bitcoin expecting something extraordinary from Bitcoin investment though there were other coins but all attention was majorly focused on BTC to see the profit before they proceed with others, like no one really expected BTC to hit $100 within a twinkle of an eye. So it's very motivating and I think this has been the motivation of HODlers and investors on other currencies believing at anytime they may have their breakthrough.

So what effect do you think the BTC growth added to other currencies?

It doesn't add any growth to other currencies, even the altcoins are left out, this growth has always been about Bitcoin alone but it has teaches other currencies what it truely means to lose their value especially assets like gold and other coins. Back in 2020 when iPhone 12 was release, 0.3 btc will buy you one iPhone 12 that time but today, that value should be able to buy you 3 IPhone 16 today and probably have some change left with you.

Bitcoin is such an asset that doesn't make you lose your value with the inflation that governments are fighting everyday but of course it has to be with time. The time is of essense if you really want to enjoy that value Bitcoin can give you in the future, nobody really expected the market to go high this fast and even tomorrow, nobody can say if Bitcoin will reach $1m but believe, one day it will reach there either politically or individual efforts with decentralization.

[maydna]

The investors already know the motivation of HODLers from a long time ago. They can hodl their Bitcoin and not panic or worry if anything happen to Bitcoin and even they can use that for their own benefit. When others don't believe that Bitcoin price can increase like today, they still believe and buying Bitcoin for more.

They know what they believe now will gives something big to them and that is prove right now. They now can sell their Bitcoin at $100k or more and takes their profit and enjoy it. While they can prepare some money to reinvest in Bitcoin when the price is down.

The other currencies? Do you mean altcoins? That impact altcoin too as many of them increase and could make a new ATH later. The other coins can follow Bitcoin and that is the effect that could happen in the market. We can wait for that and make sure we are involve in the big party.

[Dr.Bitcoin_Strange]

The effect of Bitcoin growth on other currencies is of the positive side because the bullish move have caused the price of other coins to spike too. The possibility of Bitcoin getting to $100k was not just sudden, it's a price that was long expected during the 2021 bullish movement. Before we enter the bearish season, don't be surprise that Bitcoin might surpass $150k.

[Smartprofit]

Bitcoin is the foundation of the crypto industry. All other cryptocurrencies are, to varying degrees, copies of Bitcoin.

Some of them are direct forks (e.g., LiteCoin, Dogecoin, Bitcoin Cash), others are coins with an emphasis on privacy and anonymity (e.g., Monero, ZCash), and others are coins with a developed smart contract system (in particular, Ethereum, Neo, Tron, Solana, etc.).

With all the variety of coins, tokens, NFTs, etc., the primary source of their origin is Bitcoin. Institutions also single out the first cryptocurrency from all other coins.

Alternative cryptocurrencies can be considered a kind of experimental laboratories in which technological, financial and social solutions are tested, which will subsequently be implemented in the Bitcoin code.

[Faisal2202]

For the past few years all attention of higher purchase of crypto currencies have been on Bitcoin expecting something extraordinary from Bitcoin investment though there were other coins but all attention was majorly focused on BTC to see the profit before they proceed with others, like no one really expected BTC to hit $100 within a twinkle of an eye. So it's very motivating and I think this has been the motivation of HODlers and investors on other currencies believing at anytime they may have their breakthrough.

So what effect do you think the BTC growth added to other currencies?

It's just BTC dominance was other currencies. The behavior is simple, BTC.D and its price are if going up the alt will go down. If BTC.D is up and the price is going down, then the alt will still go down. If dominance is still going up and price is stable, then alt will also be stable. Now if we take BTC.D as stable and price up, stable, and down, the price of alts will also go as follows up, stable, and down respectively.

Now it's the zone where we all want to invest in alts and want them to go up this will only happen if BTC.d decreases, and in this scenario, if BTC.d is decreasing and the price of BTC is up, down, and stable, then the alts will be up, stable, and up, respectively. What I say isn't carved in stone so dont' take anything for granted.

[ChiBitCTy]

For the past few years all attention of higher purchase of crypto currencies have been on Bitcoin expecting something extraordinary from Bitcoin investment though there were other coins but all attention was majorly focused on BTC to see the profit before they proceed with others, like no one really expected BTC to hit $100 within a twinkle of an eye. So it's very motivating and I think this has been the motivation of HODlers and investors on other currencies believing at anytime they may have their breakthrough.

So what effect do you think the BTC growth added to other currencies?

Bitcoin is simply the tide that raises all boats.  Nothing more (almost entirely) nothing left.  99.9% of altcoins are truly what their nickname is, pure shit (shitcoins).

Yeah sure if you're lookin to make some money trading, then bitcoin does a great job of help create upside potential for altcoins.  Bitcoin does well, the tide rises. 

The problem is then you're holding on to shit bags which means how are you goin to know when to dump them?  A game I'm done playing.

[EluguHcman]

For the past few years all attention of higher purchase of crypto currencies have been on Bitcoin expecting something extraordinary from Bitcoin investment though there were other coins but all attention was majorly focused on BTC to see the profit before they proceed with others, like no one really expected BTC to hit $100 within a twinkle of an eye. So it's very motivating and I think this has been the motivation of HODlers and investors on other currencies believing at anytime they may have their breakthrough.

True the crypto markets roots is hold upon the branch of Bitcoin which as a result Bitcoin has been the crowned pinned of Crypto currencies.

And other cryptocurrencies has been able to succeed In security a high volume of adoptors with the address of Bitcoin being a crypto currency so beginner enthusiasts who lacks guidance clarity befalls  to adopt other cryptocurrencies instead of Bitcoin being their utmost desires.

There also, the volatility movements of some good coins has as much followed the tends of Bitcoin in the market which technically investors are foreseen to diversify their investments on after Bitcoin becomes a prior baseline.

So what effect do you think the BTC growth added to other currencies?

Other crypto currencies has been able to gain popularity through the acknowledgement of Bitcoin potentials.

[Sanitough]

Bitcoin is the lifeblood of the crypto market. It's the foundation, the crypto that brings out the best in crypto market. Altcoins are just alternative coins that were created from the image of bitcoin. Whatever the success of bitcoin, the effect will also be carried out by the altcoins. It's just that altcoins are less dominant, but they still have the potentials to succeed in the future, next to bitcoin.

[Ever-young]

Bitcoin is the lifeblood of the crypto market. It's the foundation, the crypto that brings out the best in crypto market. Altcoins are just alternative coins that were created from the image of bitcoin. Whatever the success of bitcoin, the effect will also be carried out by the altcoins. It's just that altcoins are less dominant, but they still have the potentials to succeed in the future, next to bitcoin.

That's correct, which is why whenever the bitcoin price is affected and drops down with speed and down by some percentage, most of the altcoins are always affected, if not all, the majority of them all.
 
It's only in some cases that we do see the price of bitcoin dropping, and some altcoins will be trying to prove that they can stand out on their own and be pumping while others are dropping down. What fuels such a pump is what I don't know in most cases, but it usually doesn't last long.

[X-ray]

The reality is like this.

When Bitcoin price rise 10%, altcoins price rise 3%.

When Bitcoin price rise 30%, altcoins price rise 10%.

When Bitcoin price down 2%, altcoins price down 5%.

When Bitcoin price down 10%, altcoins price down 30%.

Only some altcoins price rise higher than Bitcoin.

I have sold my Bitcoin to buy altcoins, now I'm in floating loss like 30%.

yeah this is the reality now, the BTC.D just hardly go down, and it seems it can even go higher, because institutional investors money are centralized on bitcoin and altcoins don't even get the share of pie  .
maybe it's also people actually figuring out that BTC is the hot thing right now so they cancelled their strategy of rotating to altcoin, proven from them BTC.D chart where there's impulsive rotation from alt to BTC within a matter of hours or even less.

so the effect of bitcoin growth in this case for other currency isn't that significant, it seems BTC just want to go high without any alts following.

[Iranus]

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The bull cycle has changed a bit this year. Although we have a large amount of money flowing into the market from traditional investors through ETFs, most are still focused on bitcoin as they still prioritize safety. Also, another problem we are facing is that there are too many altcoins in the market, the market is getting too diluted and there needs to be a larger inflow of money into the market to trigger an altcoin season. So it's no surprise that altcoins can't grow with bitcoin.
But we shouldn't be too quick to say that altcoin season won't happen because after all, profit is what whales want. They are just like us, they won't easily give up a once in 4 years opportunity, so sooner or later they will trigger altcoin season after accumulating enough altcoins.

Looking at the BTC.D chart, I don't think it can go higher and can break the 60% level, it is in a downtrend and altcoin season is closer than ever.

[hd49728]

The bull cycle has changed a bit this year. Although we have a large amount of money flowing into the market from traditional investors through ETFs, most are still focused on bitcoin as they still prioritize safety.

Bitcoin is a biggest cryptocurrency in market cap and big institutional investors with massive capital from traditional markets, if want to join cryptocurrency market, surely will pay their attention and spend their capital firstly into Bitcoin. They have massive capital in management and capital safety is their first and vital priority, profit is a less important concern with them, maybe only at the second position in priority list.

Also, another problem we are facing is that there are too many altcoins in the market, the market is getting too diluted and there needs to be a larger inflow of money into the market to trigger an altcoin season. So it's no surprise that altcoins can't grow with bitcoin.

Bitcoin besides biggest market cap, highest trading volume that are helpful for institutional investors with entries and exits, has other big advantages.

In security of blockchain, it's a safest one with biggest network hash rate. Together with Proof of Work algorithm, Bitcoin blockchain gives highest safety for fund transfers.
https://howmanyconfs.com/

Altcoins are different, even with PoW algorithm, they have worse security, and if its blockchain is based on Proof of Stake, Smart Contract, other algorithms, it's worse.

Many altcoins have died since 2009.
How many (altcoin) cryptocurrencies have failed?

[Helena Yu]

If you don't want stable coins, don't want cash, the best choice for you is Bitcoin, not altcoins.

I had no intention to buy altcoins, it just that I wanted to participate in launchpool, since the only allowed to stake is using altcoins, so I have to buy altcoins.

so the effect of bitcoin growth in this case for other currency isn't that significant, it seems BTC just want to go high without any alts following.

Yeah maybe, I'm still waiting for my altcoins to at least recovered to the price that I bought before, then I will sold all of them either for stablecoins or Bitcoin. Most altcoins are fucked up lately.

[icalical]

Bitcoin rise above $100,000 attracted new people into crypto, and it also lead people into altcoin market, but all altcoins benefit equally. Many of altcoins is not well established many others also has sketchy background. While Bitcoin's success opens doors to the industry, it does not guarantee a breakthrough for others. Altcoins with strong use cases and community support may thrive, but most of them battle to rival Bitcoin in acceptance and appeal, making their success dependent on how well they navigate adoption and regulatory challenges.

[X-ray]

The bull cycle has changed a bit this year. Although we have a large amount of money flowing into the market from traditional investors through ETFs, most are still focused on bitcoin as they still prioritize safety. Also, another problem we are facing is that there are too many altcoins in the market, the market is getting too diluted and there needs to be a larger inflow of money into the market to trigger an altcoin season. So it's no surprise that altcoins can't grow with bitcoin.
But we shouldn't be too quick to say that altcoin season won't happen because after all, profit is what whales want. They are just like us, they won't easily give up a once in 4 years opportunity, so sooner or later they will trigger altcoin season after accumulating enough altcoins.

Looking at the BTC.D chart, I don't think it can go higher and can break the 60% level, it is in a downtrend and altcoin season is closer than ever.

hopefully that's the case, been accumulating some, but I know i'm at loss right now and BTC is having retracement as well.
but I have this firm believe that we'd see BTC reaching $130k first before BTC.d making a significant dump, I personally don't think that 60% BTC.D gonna be peak, probably 61% which already such a massive retracement for alts.
right now alts are going back to their entry before bullrun already  .

[yhiaali3]

Yes, the impact of Bitcoin on Altcoin is very large, both in actual terms and emotionally, as any rise in the price of Bitcoin leads to a rise in Altcoin and vice versa.

This is in the short term, but in the long term, many people buy Altcoin because they believe that it will grow like Bitcoin did, as it started at a price of about a few cents to reach above $100K, but in reality they are wrong. Altcoin does not have the qualifications of Bitcoin that made it grow with such a big leap over time.

[davis196]

For the past few years all attention of higher purchase of crypto currencies have been on Bitcoin expecting something extraordinary from Bitcoin investment though there were other coins but all attention was majorly focused on BTC to see the profit before they proceed with others, like no one really expected BTC to hit $100 within a twinkle of an eye. So it's very motivating and I think this has been the motivation of HODlers and investors on other currencies believing at anytime they may have their breakthrough.

So what effect do you think the BTC growth added to other currencies?

1.Altcoins are just a supplement to Bitcoin. They aren't Bitcoin's competitors(it doesn't matter what altcoin developers are saying).
Bitcoin maximalists claim that altcoins are useless. To be honest, I kinda agree with the BTC maximalists, but at the same time, I don't mind the crypto world having lots of altcoins.
2.The altcoin prices are following the BTC price, but altcoin's volatility is higher. When the Bitcoin price goes up by 30%, some altcoins/shitcoins/memecoins could increase 5x or 10x. This is what makes altcoins desirable for the speculative risk loving investors and traders. The same logic applies to crypto bear markets. When the BTC price drops, some altcoins could crash 5x or 10x.

[Sebas.tian]

Bitcoin will continue to remain the king among other cryptocurrencies to attract more people to know the benefit of Bitcoin, because those that embraced the opportunity last year to purchased Bitcoin and hold till this month of December made huge amount of income from Bitcoin in this bullish season. This new ATH that happened few days ago contributed what makes some holders and investors to have confidence on Bitcoin, because they believe it will increase to a higher price in the nearest future, and for you to be part of the benefits in the bullish season you have to purchase Bitcoin from the market in the bearish season . Whenever the price of Bitcoin is increasing, other cryptocurrencies price will be increasing too, because it attract other cryptocurrencies teams to make their coins to increase along side with Bitcoin for their holders or investors to enjoy the benefits of their coins.

[Marvell1]

1.Altcoins are just a supplement to Bitcoin. They aren't Bitcoin's competitors(it doesn't matter what altcoin developers are saying).
Bitcoin maximalists claim that altcoins are useless. To be honest, I kinda agree with the BTC maximalists, but at the same time, I don't mind the crypto world having lots of altcoins.

1. I don't see any altcoin that can compete with bitcoin, most acknowledge bitcoin's dominance in the crypto industry. All were happy when BTC ETF was approved and all were congratulating when bitcoin crossed $100k, none of them are against or intend to compete with bitcoin, that's what I see.
I don't deny that many altcoins are created just for pump and dump purposes but not all. How can that be called useless? While altcoins like ETH, LINK, AVAX...are still growing and recognized by many organizations and we also have ETH ETF and it will not be surprising that LINK, AVAX...will also have ETF in the future.