Does BTC control a lot of the other altcoins

[deppil]

Im a N00b.  I noticed that most of the top altcoins price went down when btc price went down.  I bought some bitcoins so i can buy some NEM.  I was wondering if I should wait a little while for the price of btc to go back up or would that mean that NEM prices would most likely go up too?

All this altcoins are depending in the Bitcoin's price generally. Bitcoin is the first and the most used , and the most valuable crypto currency ever, so it is normal that all the other crypto currencies values get affected by the bitcoin's price chart, either going up or down.

i think it will be different if the altcoin is compared to the fiat price in the market, for example etherum / USD, although bitcoin price rises does not mean the price of etherum to the dollar will decrease, i think it will depend on the exchange rate you will choose, because it is very possible when bitcoin prices fall instead of etherum strengthened in dollar, not always affected by bitcoin rate

[1714923839]

1714923839

[coinzoid]

Yes, in my opinion Bitcoin controls other alts with upwards or downwards trends. If a crash happens alts try to survive. And once a big crash happens almost all alts struggle.

[just_Alice]

Not all altcoins rise or drop together with Bitcoin, but most of them do, that's right. I think the reason for that is not that bitcoin "controls" other cryptos but rather that they are traded for BTC on most exchanges and if a coin costs 0.003 BTC for example and the price of 1 BTC in USD rises or falls the price of the coin in question rises or falls subsequently. But, as I said, not all altcoins behave like that. Some of them are heavily pumped in a particular period of time and some of them are really promising and that's why more people want to buy them and their price rises.

I don't know for what reasons you want to invest in NEM, but I would recommend you to research IOTA (MIOTA), because my sister, who knows abouts altcoins much more than I do, says that this coin has a really great potential in the years to come.

[CrisBrown12121997]

I suppose that we compair altcoins with BTC. And othe coins want to rich the success like BTC and they correspond to it nonetheless.

[miningguru]

Yes, there is a big impact on altcoin when the price of Bitcoin is reducing and previously even I didn't agree with that but later when started trading I understand that Bitcoin impact is there on altcoins.

[burdeN]

Almost all altcoins are traded through BTC, so it's no surprise that bitcoin price reflect alstcoin's

[Mr.Stinson]

well since btc is mostly an indicator of the price for altcoins it kind of affects the price

[Jafri101]

Yes Bitcoin is the father of all crypto currencies. The value of Bitcoin when increases so alt coin also increases and when it goes down so price of altcoin decreases the same way because all crypto currencies mostly are exchanged with bitcoins. so they are dependant mostly on bitcoin.

[Lobosinho]

Hence the connected value of most altcoins with the value of BTC I think it’s good to have coins in your portfolio which grow relatively faster than BTC.

Which tools, knowledge, graphs,… can help me to make an assumption on which coins will grow relatively faster vs BTC?

[Direwolve735]

Bitcoin is historically the first crypto. Other crypto currencies were initially focused on Bitcoin. But now most altcoins are technically different from Bitcoin. Altcoins can be used the same way as Bitcoin and also in other ways. That means they are more useful then Bitcoin, and probably someday they will be able to surpass Bitcoin. This is often the reason why people invest in altcoins.I don`t think Bitcoin controls a lot of other alcoins now, but it`s still the most profitable and the safest. Therefore, he was and remains the leader of the crypto currencies.

[Elite 888]

No. It does not.

But what I've noticed is that the market in general tends to follow Bitcoin in the short term. For instance if BTC drops today, the market will probably as well.

[Razmirraz]

I think btc doesn't control value altcoins. Only, investors that invest alot on btc. So, when many Btc holders sell out on huge quantities. Then investors altcoin automatically exchange, so seems btc controls altcoins.

[Idrisu]

Over 98% of altcoins are been controlled by bitcoin , I have been following bitcoin price and almost all the altcoins and as a professional traders I can tell you that when you see bitcoin falling most of the altcoins also become bearish. To call  but a few we have the following altcoins that  are sympathetic to bitcoin: ethereum, litecoin, ripple, zcash, neo, wave and so many others.

[olushakes]

The impact that the price of bitcoin have on alt is related to the large volume alt and the popular ones. I have traded Alt that are not so popular and the effect of whether btc increases or decreases does not matter. However, for coins such as ETH or Dash, it is expected that when bitcoin takes a hit, their own price takes a bash because rather than running their own race, they tend to want to outshine the king.

[amaral1977]

You gave the answer for your own question. There is a normal movement of money in crypto. People usually buy BTC and then begin to get interest in the other coins and move from BTC to them. So they depend a lot on BTC movement. In time ETH, for example, that can already be easily purchased from fiat and as it´s very own "ICO" ecosystem may start to move more independitly. But for the time being it´s BTC that is determining the market movements in all of cryptoland.

[pureclckr]

I would rather say that people are actually are undecided whom to believe, there is still many doubts that Bitcoin is scam, which will evaporate over time. But til then we must stay strong and hold. So i cannot say BTC is in full control, more like fear from loosing money - panic is worst enemy. You can see that strong community projects such as Monero records growth, for example. Then we cannot point finger at BTC as guilty one. Main problem here is we have lot of new members who are attracted here by good stories about profit overnight..Yes they are those who feeding whales..

Those people who still believe that bitcoins are scam, never ever going to reach their high goals in their lives with luxurious lifestyle. Bitcoins are a divine gift and many people are meeting their financial needs with bitcoins. Bitcoins are never ever going to get anyone scammed provided he is not working with scammers.

[ap3311]

after all the altcoins are in some way dependent to bitcoin. I think it is necessary to be dependent. the value of the altcoins is the dollar equivalent.but when we want to turn it into real money, we need to convert it to bitcoin..even this shows the dependence of altcoins to bitcoin..As a result, bitcoin is the head of all cryptomoney world. so I think it deserves a certain respect.  and the answer to the question you  asked was yes. bitcoin controls many altcoins.


 

[manselr]

Im a N00b.  I noticed that most of the top altcoins price went down when btc price went down.  I bought some bitcoins so i can buy some NEM.  I was wondering if I should wait a little while for the price of btc to go back up or would that mean that NEM prices would most likely go up too?

A valid analogy to make noobs understand the situation is to think as Bitcoin as the engine of the entire cryptomarket. Without bitcoin, the trust on crypto as a whole would simply disappear. Im sure due the traction of the current hype on crypto, it's own inertia would keep it going for a while, but if bitcoin had a fatal flaw, the crash would be serious on ALL coins.

Luckily for us, BTC is as safe as it gets, so similarly, when it goes up, the strongest alts also recover, but most people will want to sell alts during a BTC rise, so you much choose carefully.

[TrumpD]

Yes and no. Every coin has its own destiny and course to follow, but because bitcoin is the most traded coin, with more volume in exchanges, it tends to impact prices a bit if exchanged for a particular coin.

[bncbnc]

after all the altcoins are in some way dependent to bitcoin. I think it is necessary to be dependent. the value of the altcoins is the dollar equivalent.but when we want to turn it into real money, we need to convert it to bitcoin..even this shows the dependence of altcoins to bitcoin..As a result, bitcoin is the head of all cryptomoney world. so I think it deserves a certain respect.  and the answer to the question you  asked was yes. bitcoin controls many altcoins.

Very honestly i think yes that bitcoin is controlling a lot of other altcoins. because for most of the altcoin to trade them we depend on it for bitcoin, On other side bitcoin is the main currency which we use for different purposes even for buying altcoin and when we want to sell altcoin we even do trade and convert the altcoin into bitcoin again.