Altcoin Market Cap only going up because of Bitcoin

[coinsgod]

Looking at the past few month's data of the market cap increases, most Altcoins have had a massive 50-200 bagger increases mainly because of Bitcoins rise. If Bitcoin didn't rise, most Altcoins wouldn't have made much of a gain. Therefore, if Bitcoin was to take a massive crash in the future, even if it was to go down 40%, then all these Altcoins could end up taking a 80%+ dump of their market cap. What are people's thoughts about this?

Eg. Taking a look at Lisk's charts. Jan 2017 the market cap was $15mil and 1 Lisk was about 15,000 satoshis. Now the market cap is about $320mil and 1 Lisk is about 70,000 satoshis. In another words 1 Lisk has increased just over 300% based on BTC but on the other hand the market cap in Dollars has increased over 2,000%.

https://coinmarketcap.com/currencies/lisk/

[seriousbusiness]

Well its always up and down. As long as you dont panic sell them when BTC is dumping you wont lose your money. Imagine you bought all TOP 100 Coins for 10$ each and hold it until today. The profit would be 15.000$+ by 1000$ as investment. BTC will raise even more and than dump again - raise - dump - raise. Altcoins will do the same.

[e-coinomist]

I am mostly watching XMR. Recognized the most recent biggest influencer has not been BTC moves but Alphabay, and finally the Alphabay bust. That event wobbled whole altcoin scene, every chart been drawn in red. Seen Old patterns now broken up, XMR tended to move anticyclic on BTC most of it's livetime.
So no, it's not bitcoin alone influencing altcoin charts.

On some regards it is the technology. Transport capacity of blockchain beeing an actual toppic (scaling debate), or the shutdown of big mixing services.

[maydna]

i think every altcoin still depend on bitcoin price, if the price is increase then altcoin will be down but in another time, altcoin price will rise until more than 100% following of bitcoin price. so i think its normal if we are seeing the price is up and down and our jobs is to gets survive in crypto currency if we still want to make money.

[Snub]

in most cases, altcoins only go up because of the bitcoin price rising, most altcoins have xx.xx value in bitcoins so with the bitcoin price spike altcoins are in the rocket too

[nofuture]

 
It's all marketcap depend on bitcoin price.. with 4000$ per 1 coin. no coin can do that. so calculator 16 tr.. bitcoin is the big boss in market.

[ROT13]

In other news- the wind blows and rain falls

[949miner]

I have been watched coinmarketcap charts for more than two weeks, and i can say that i am impressed of how so many altcoins has growth in a few days.
I couldnt believed when i saw that lisk had a 30% increase in 12 hours. monero went from $44 to $92 in two days.
Neo is making a nice pump too. but those coins are better that i was expecting.
I am impressed

[Idrisu]

I have also see this happen several times and traders especially day trader has make profit several times. When bitcoin take bearish position before the August first issue, the whole altcoins take a very serious downward position. We should study this trend and see what is happening.

[rayk]

If bitcoin doesn't rise anymore alt coins will rise at last because money has to flow into coins and bitcoin cannot stop it.

[Dikobit]

i think the best scenario is right now, a little increase of btc so it doesn't drain money from altcoin

[e-coinomist]

I have been watched coinmarketcap charts for more than two weeks, and i can say that i am impressed of how so many altcoins has growth in a few days.
I couldnt believed when i saw that lisk had a 30% increase in 12 hours. monero went from $44 to $92 in two days.
Neo is making a nice pump too. but those coins are better that i was expecting.
I am impressed

Dont fall for a FOMO frenzy. Such moves are more suited to sell some bags.
Best practise has been looking for the cheap coins, collecting them (not to fast!) slow over time.

[jilani]

I am not fully agree with you because its right all alt coin market is fully depend on Bitcoin but BTC is not stable coin.So when BTC is big pumping in this time alt coin market is dump on the other hand when BTC market is dump this time alt coin market is big pumping.