If Bitcoin skyrockets, how will it affect alt coin prices?

[Dudeperfect]

I am not 100% sure but it but I think people try to hold their investments in crypto currencies and they are scared about the price volatility so as soon as the price of bitcoin falls, bitcoin holders immediately transfer their funds in BTC to altcoins and vice versa so it is kind of correlated with each other. Usually, it happens with top 5 alt coins and if I am not wrong then we might see a downfall in the price of top altcoins after August when bitcoin rally will start.

[wuvdoll]

I am not 100% sure but it but I think people try to hold their investments in crypto currencies and they are scared about the price volatility so as soon as the price of bitcoin falls, bitcoin holders immediately transfer their funds in BTC to altcoins and vice versa so it is kind of correlated with each other. Usually, it happens with top 5 alt coins and if I am not wrong then we might see a downfall in the price of top altcoins after August when bitcoin rally will start.

There were times where bitcoins and altcoins are getting traded reversely but if we notice in last six to eight months altcoins and bitcoins are jointly moving back and forth as new investors are deciding the directions of entire cryptocurrencies' markets. I guess this may continue even after August as nothing is going to stop new people adopting cryptocurrencies.

[Frost]

After yesterday's incident I think for the future bitcoin prices will be the benchmark for altcoins prices and will follow if prices move up and down.

[SvenBomvolen]

There is no doubt that such altcoins as Etherum and Litecoin will follow Bitcoin's price, but today we have so many altcoins and so many shitcoins among it, so I don't think that each one of all this mass will be covered in green.

[Monnt]

There is no doubt that such altcoins as Etherum and Litecoin will follow Bitcoin's price, but today we have so many altcoins and so many shitcoins among it, so I don't think that each one of all this mass will be covered in green.

There were many occasions where litecoin went in opposite directions of bitcoin markets, I mean to say we cannot be sure what is going to happen when bitcoin will be skyrocketting. As per diversifying principle holding multiple altcoins may eliminate the risks of losing all at once. But the altcoins for holding should be chosen very carefully as there are numerous meaningless coins are being introduced everyday.

But now a days if a coin is moving along with bitcoin prices if it gets enough bumping manipulators. There will be no need to consider its background just having enough investors makes a coin worthy. That may be a bad directions for traders and investors.

[Adbitco]

There is no doubt that such altcoins as Etherum and Litecoin will follow Bitcoin's price, but today we have so many altcoins and so many shitcoins among it, so I don't think that each one of all this mass will be covered in green.

Yes I am of the same opinion. A few of altcoins price will rise with the rise in bitcoin prices but not all of altcoins prices will rise. It's something which has happened already in the past and it has become almost like a trend.

[Nahl]

i think the price of altcoin also will increase and it does happened several times ago when bitcoin price reach $3000 majority altcoin also rise up even Doge has been surpassing 100 satoshi but only i think if bitcoin price skyrockets again increasing price for altcoin only happened for the altcoin which is had high volume support such as ETH, Dash or maybe Doge

[Coffee2015]

Only one way for ALT.
TO THE MOON for HODLR.

[raven7886]

Altcoin prices will follow bitcoin as they are all traded against bitcoin so it plays a huge role, there are other markets also such as ETH and so on but if bitcoins price goes up or down the alt coins price ultimately follows.

Yes true saying it will not be wrong that the altcoin market is dependent on the bitcoin, the etherium is trying to build its own market and seeking to ways to work independently from the bitcoin through many ways such as by offering an ICO launching through it but still it is very much dependent on the bitcoin.

It has been noticed exclusively that bitcoin price affects the alts price with the rise and fall of the bitcoin price.

[Willitivity]

Altcoins are proportionately tied to bitcoins.
When the price of bitcoin increases, it brings the Altcoins up and vice versa.
But when the increase is exponential, it works in reverse.
A gradual increase is needed for the Altcoins to move in well.

[hutay5]

Altcoins are proportionately tied to bitcoins.
When the price of bitcoin increases, it brings the Altcoins up and vice versa.
But when the increase is exponential, it works in reverse.
A gradual increase is needed for the Altcoins to move in well.

So true. Bitcoin prices go down these days. Altcoins fall as well because people find the price of bitcoin is at an acceptable point to buy again. But if the price going to skyrocket, then there might be a good chance for all coins to rise after that skyrocket.

[crypteris]

They are interconnected. Bitcoin is like a marker for all other cryptocurrencies. If it goes up - altcoins will also go up.

[Bagaji]

It has happen in time without number, any time the market value of bitcoin drop significantly the market value of most altcoin will fall significantly. And this happen most time because in my own opinion bitcoin is an independent while altcoin are dependent variable on bitcoin

[nydiacaskey01]

Last time Bitcoin reached $5000 altcoin prices dropped as altcoin holders dumped in exchange of BTC to convert to fiat or USD for profits. Maybe they have this feeling that BTC may have reached 5k but it will not last and go down again to 4k so they took advantage of the moment. But if BTC reached a certain level that or all time high and settles at that price, price of altcoin will follow as well.

[Nerman]

We cannot assure that alt coins will follow, but if we are going to base it  on previous price action of Bitcoin majority of the Altcoins followed its price action.

[zekeshawn]

I have witnessed bitcoin skyrcokets many times already and as what I observe every time this happen almost all altcoins dump maybe because people want to hold bitcoin and then they will convert it to fiat after the new ath will be reach.

[Nasty23]

I have witnessed bitcoin skyrcokets many times already and as what I observe every time this happen almost all altcoins dump maybe because people want to hold bitcoin and then they will convert it to fiat after the new ath will be reach.

I'm also noticed that the altcoins price drops when bitcoin reached new ath. Bitcoin have a big influence in the market that can cause its price high and affect all the altcoins because most of the traders in the market are depends in bitcoin price.

[morantis2015]

not much at all.  bitcoin is a gateway to those coins through the exchanges, but there is also litecoin and doge most of the time, it is not that critical and even a higher price still allows for the deposit of bitcoin and use

[nkarm1]

Most of all will rise with it so as with falls. It's just because of one reason, "almost" all of this altcoins market cap are usually funded by bitcoin. Same as etherium, where there are many situations that when bitcoin rise, it also increases it's price. But somehow "unsual" things happened, they go with opposite directions. Maybe because of individual news or events like hard fork in alts, like in etherium when they are about to fork the network most of the users take advantage of it to dump. Or sometimes, when bitcoin is about to rise people use to dump altcoins to switch to Btc. So it's all of a matter of time and events. But usually they go with bitcoin.

[Sobol101]

This might be a dumb question, but I thought I'd ask it anyway. I've noticed that every time Bitcoin significantly drops it drags down the prices of alt coins. Now let's assume that the price of Bitcoin skyrockets in August. Would that increase the price of most alt coins as a result?

Everything depends, if bitcoin takes off, then other coins will not remain in the shadows and will also tend to go up as well as altos. Therefore, we are waiting for the moment.