How does Bitcoin affect other Crypto?

[peacefulpeace]

yes, the prices of altcoin are greatly dependent on bitcoin, bitcoin is more a medium of measuring altcoin, if for instance you want to invest or buy an altcoin, it is mandatory you convert your fiat currency to bitcoin before purchasing that altcoin. So definitely the price of bitcoin will determine the value of altcoin too.

[1715214623]

1715214623

[1715214623]

1715214623

[1715214623]

1715214623

[1715214623]

1715214623

[1715214623]

1715214623

[cotton ball]

yes, the prices of altcoin are greatly dependent on bitcoin, bitcoin is more a medium of measuring altcoin, if for instance you want to invest or buy an altcoin, it is mandatory you convert your fiat currency to bitcoin before purchasing that altcoin. So definitely the price of bitcoin will determine the value of altcoin too.

You are right, but it should be stressed that there are currently many exchanges that have direct fiat-altcoin conversion features, so there is no need to go through bitcoin first, I have another reason where cryptocurrencies have a special benchmark on bitcoin.

the most important aspect is fundamentally as the highest volume and still the best crypto conversion center for now, whatever happens to bitcoin prices will make Fomo for every trader to keep trying to balance assets even in bad conditions. panic levels were greatly affected when bitcoin fell and they also chose to sell altcoins for temporary conversion to fiat.

[Shannon98]

Bitcoin is the first cryptocurrency, despite the rise in Altcoins, Bitcoin still has the advantage of being widely recognized.

[bitbunnny]

The way I see this situation is that Bitcoin is some central value referal for other coins and their value is great deal compared with Bitcoin.
Also, I could say that almost all other coins are created with purpose to achieve Bitcoin's success and to be so valuable and accepted, which is not going to happen but Bitcoin is still influencing great deal on them.
This is also confirmed on the situation on the market where we can see how fluctuations on Bitcoin price influence the price of altcoin.

[Angna27]

They say that when bitcoin increase it has a tremedous effect in all other coins, bitcoin is their basis that when it increase their coins too will get a chance to push and moved to become one potential coin and the value of coins in the market will also be moving.

[xbiv2]

How does Bitcoin affect other Crypto?

All altcoins is SCAM, scamers convert all money of scamed people into BTC.
SCAMers cannot use fiat for keep this criminal money.

[wangchagongcha]

Bitcoin is the king of digital money so I think it has a role affect in the crypto market as well as other Altcoin, albeit with little effect.

[Nanagyasi]

Btc has long ruled the market and I believe this trend will ccontinue for long. Studying the market trend well, you will see that btc has is central to all trading such that for one to even buy an altcoin, he will need to use btc.

[denzkilim]

The way I see this situation is that Bitcoin is some central value referal for other coins and their value is great deal compared with Bitcoin.
Also, I could say that almost all other coins are created with purpose to achieve Bitcoin's success and to be so valuable and accepted, which is not going to happen but Bitcoin is still influencing great deal on them.
This is also confirmed on the situation on the market where we can see how fluctuations on Bitcoin price influence the price of altcoin.

Correct, Bitcoin has a very big role in those Altcoins that are spreading and sprouting all over the crypto space because of most of this new Altcoins have a pairing to Bitcoin and their value depends on Bitcoin's value and it is proven because whenever Bitcoin is going down almost every Altcoins under Bitcoin is also falling and also decreasing its value.
Bitcoin is like the father of all crypto currencies because this is the one who started it all and almost every crypto currencies that sprouts are just a copy of Bitcoin with some modifications and adjustments to make it look original.  

[ophyrim]

The trust or distrust of investors to the bitcoin also bring the trust or distrust to the other alts. Thats why before alts movement, generally btc moves and alts follow btc with a multiplier.

[ShiroThe5th]

Maybe because all transaction and exchange is needed to pass first to bitcoin. Bitcoin is the medium of exchange im crypto.

[paulk11087]

In fact, as we will see today, bitcoin has an incredible impact on altcoins. A small increase and a fall followed by a decline of almost 10 percent. this clearly shows how effective it is.

[Cryptrx]

Bitcoin having the highest market cap affects other coins because it's the most tradded against other coins, so when it's rising or dumping people sell other coins to buy more bitcoin thereby crashing the price of other coins.

[rudox]

Generally when bitcoin price goes up the altcoins price normally goes up with it at least majority of them. But your scenario is quite  opposite what we have experienced so i may tend to believe that it has to do with that particular altcoin  you are holding. I know of an altcoin that goes up when bitcoin goes down and goes down when bitcoin goes up. This is in opposition against the other altcoins that moves in the same direction with bitcoin. This is my won experience.

[Bangete]

there is no single entity that controls the price of Bitcoin. The issue of hackers is also a determinant of the fluctuating price of bitcoin. Investors, traders and bitcoin users will experience panic when there are parties who lose a lot of bitcoin because they are hacked. Because of this panic, it will increase bitcoin sales transactions in bulk.

[samules]

The thing is bitcoin is the very first crypto currency and most of the people trust bitcoin than any other crypto currency.

The price of bitcoin increases,other alt coins may increase or remain in the same level, but when bitcoin's price decreases

most of the time other altcoins also go down along with it. But this is not likely to happen all the time and the price change

between bitcoin and altcoin doesn't happen immediately.

[Shannon98]

Prices are based on Bitcoin as a gold standard because Bitcoin is the first mainstream cryptocurrency.

Cryptocurrencies were designed as a unit of exchange and as a place to store assets without relying on a central bank. Bitcoin is often seen as the ‘reserve currency’ of the cryptocurrency world. Rises and falls to the price of bitcoin often has a knock on effect with other cryptocurrencies. As bitcoin was the first mainstream cryptocurrency and is the most supported, the price of bitcoin can often influence the other cryptocurrencies.

[revive7up]

In the digital co-branding market Bitcoin is king, simply as it strong as then the US dollar. However, that does not mean they aren't affected by other types of electronic money such as Ethereum, Ripple, Litecoin, etc. The electronic coins that affect each other make the crypto market more and more developed.

[Faraha_JJJ]

Not all altcoins  have dependencies on big boys like ETH and BTC. Some of the altcoins tend to move irrespective of ETH and BTC price. You may want to see the historical data of altcoins and deduce the behaviour. I am not a trader , I hold on to tokens and wait till the platform goes live and then decide.

[Pump N Dead]

Bitcoin price have a direct effect on altcoin value because Bitcoin is the measurement of the value of altcoins and once Bitcoin goes up the value of altcoin decrease because many altcoin holders are selling their altcoin in exchange of Bitcoin.