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

[lady pink]

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.

Why is it so? why all the altcoins are dependent on bitcoin? What is the relationship of altcoins with the bitcoin? If bitcoin price is to be be praised then what are the atcoins here for? It simply indicates that bitcoin is the genuine and the rest are just useless clones.

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[RealPhotoshoper]

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.

Actually when the bitcoin price rise so high altcoin went down and make an adjustment slowly.
It cost quite a lot of time , and you could make profit with that situation.
All you need is an experience deal with similar market condition and a lot of patience.

[pawanjain]

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.

Actually when the bitcoin price rise so high altcoin went down and make an adjustment slowly.
It cost quite a lot of time , and you could make profit with that situation.
All you need is an experience deal with similar market condition and a lot of patience.

According to me everything depends on the public. If people are buying a particular coin then its price will increase and vice versa for sure.
If Bitcoin's price is decreasing it means somewhere around the globe people are selling their BTC. Some people sell it to buy altcoins and some exchange it for fiat. If Bitcoin's price is increasing it means people are buying BTC. Same as above, people can buy BTC with fiat or sell their altcoins in exchange for BTC. So it all depends on how people are reacting in a particular situation which makes the price fluctuations in the market.

[fedoralite]

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.

Actually when the bitcoin price rise so high altcoin went down and make an adjustment slowly.
It cost quite a lot of time , and you could make profit with that situation.
All you need is an experience deal with similar market condition and a lot of patience.

That's the basis on why I can tell that altcoins are just relying with bitcoins since if bitcoins will down all altcoins price are affected eventhough their satoshi value will rise that's why all people hopes that btc will not fall since all of us will get affected if the top 1 coin will fall.

[flower1024]

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.

Actually when the bitcoin price rise so high altcoin went down and make an adjustment slowly.
It cost quite a lot of time , and you could make profit with that situation.
All you need is an experience deal with similar market condition and a lot of patience.

That's the basis on why I can tell that altcoins are just relying with bitcoins since if bitcoins will down all altcoins price are affected eventhough their satoshi value will rise that's why all people hopes that btc will not fall since all of us will get affected if the top 1 coin will fall.

The main altcoins price depends on bitcoin price. When the bitcoin price come down all these coins prices also come down. But when the bitcoin price is skyrocket it affects only for few coin price and rest of other coins will be stable. But when it falls it will affect to all altcoins. How it will affect, even I don't know the exact reason. I think people will tempt to see bitcoin price and they hope altcoin price also increase so they will start to buy altcoins and the price will increase.

[Shinza]

Perhaps the altcoins will also increase but not follow the same ratio as btc. Because the exchange rate between btc and altcoins is not always the same, and not all altcoins increase. Some altcoins are created without any relation to btc. But for btc to rise again on September 1st, it may take some time for the market to stabilize, but prices may not continue to fall, it will remain at current prices.

[speedy963]

Well before, i can say that when the bitcoin price starts to rises, altcoins will be down shortly. In my opinion alt coin holders starts to panic at that time then they will dump instantly to convert to bitcoin because they are following the price of bitcoin.

[BitMaxz]

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.

Actually when the bitcoin price rise so high altcoin went down and make an adjustment slowly.
It cost quite a lot of time , and you could make profit with that situation.
All you need is an experience deal with similar market condition and a lot of patience.

That's the basis on why I can tell that altcoins are just relying with bitcoins since if bitcoins will down all altcoins price are affected eventhough their satoshi value will rise that's why all people hopes that btc will not fall since all of us will get affected if the top 1 coin will fall.

The main altcoins price depends on bitcoin price. When the bitcoin price come down all these coins prices also come down. But when the bitcoin price is skyrocket it affects only for few coin price and rest of other coins will be stable. But when it falls it will affect to all altcoins. How it will affect, even I don't know the exact reason. I think people will tempt to see bitcoin price and they hope altcoin price also increase so they will start to buy altcoins and the price will increase.

But honestly not all altcoin are affected there are still few altcoin are stable in movement of the price and sometimes there are altcoin are increasing more value than bitcoin ..
And i think that is why altcoin are decreasing its value its because the exchanges are relaying in bitcoin price not directly in altcoin to usd..
Well as i can notice lots of altcoin are moving down when the price of bitcoin was decreasing and i think it is a part of panic selling there traders are selling their altcoin in bitcoin and exchange them into usd. that is why altcoin are also decreases.

[alyssa85]

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.

Why is it so? why all the altcoins are dependent on bitcoin? What is the relationship of altcoins with the bitcoin? If bitcoin price is to be be praised then what are the atcoins here for? It simply indicates that bitcoin is the genuine and the rest are just useless clones.

When bitcoin goes up it attracts newbies who come into the cryptocurrency space and unvestigate it. They often feel bitcoin is "too expensive" and decide to invest in alts because they might be "the next big thing". Which is why a bitcoin rise tends to lift the whole cryptocurrency space.