Does BTC control a lot of the other altcoins

[toddfw2003]

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?

[1714093047]

1714093047

[1714093047]

1714093047

[nejibens]

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.

[Hydrogen]

The value of all altcoins, crypto and ICO's are derived from the value of bitcoin.

It might be fair to say crypto is backed by bitcoin, the way that fiat paper money is backed by gold reserves kept in vaults.

When the price of bitcoin fluctuates, the value of all other crypto/alt/ico shifts with it as bitcoin is the standard by which everything else is judged.

[player514]

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?

Technically, each coin is supposed to be individual and its own market. However, what happens is that bitcoin's value impacts the values of other altcoins and cryptocurrencies. Remember that Bitcoin has the largest market cap out of any other coin created, and it's by a significant margin too. With this in mind, when you see bitcoin dropping or rising, chances are, altcoins will too.

[mrcash02]

Interesting question. I know Bitcoin price affects all other AltCoins price as everyone here said.

But why?

[Irdina]

Bitcoin is the king of altcoin,Bitcoin greatly affects the price of altcoin,
So don't be surprised if altcoin prices depend on bitcoin,

[cpfreeplz]

You're going to buy NEM? Wow. You really are a n00b. Maybe look up what their real world purpose is. Aren't they also heavily pre-mined or am I thinking of many other alts out there?

Bitcoins are king so when bitcoins drop altcoins will almost certainly drop even harder 90% of the time. They're bitcoins with 50%-100% more risk basically is how I see them.

[Golftech]

the bitcoin value really influence most of alts value, it seems to be like that by now, if i remember correctly, before we are waiting for btc value to fell
in order for us to see the price of alts to rise that's a year ago but this year we've seen that every downfall alts also falling i'm not sure now it there's
relevance just be very careful before buying anything.

[ethereumhunter]

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?

i think its because bitcoin is still for adjustment for the other altcoins and no matter bitcoin is up and down, the altcoin will be followed but for some other altcoin, the price is not follow bitcoin. if you can see in other market like yobit, bleutrade, c-cex, hitbtc and else, if btc is down, some of altcoin is increase but the most altcoin especially in top 50-100 is going to down.

[Str1x]

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.

Doesn't it depend on the paired currency of an altcoin. So xx/BTC depends on BTC value, xx/ETH depends on ETH value and so forth

[Grim149x]

I think bitcoin has no direct control of other altcoins. However, in my observation most altcoins follow bitcoin. If bitcoin goes up then most altcoins tend to go up.

[Babayega31]

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?

It's because the value of bitcoins is down but we cannot tell that bitcoins control all alts since bitcoins is far different among them but the only contribution for bitcoins with alts are the price of it is been calculated with the bits that's why you can see that altcoins are in red days when btc value is red also.

[bassong]

No and yes, almost all the actions are traded against bitcoins. It happens that whenever the bitcoin price tanks, that of altcoins follow. This is as far bitcoin influences other altcoins.

[arbitrage]

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..

[Pierre 2]

Actually in general when altcoin prices go down, btc price goes up.
But latest situation killed lot of cryptoinvestors' money so they just turned into fiat money. This was rare to happen anyways.

[Seansky]

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?

Technically speaking all altcoins is not controlled directly by btc but some of their prices can be predicted when btc falls or rises just because they are only used for speculations to earn more btc and has no real world use. If I were you, I wouldn't wait to buy NEM based on btc price but rather I will look to buy into NEM when it's conversion to btc goes down.

[pey]

Rather than controlling all altcoins, it will be better to say that bitcoin reflects all positive and negative effects that have an impact on itself to altcoins normally as it is 50% of the total market cap.

[cryptocrusher]

Bitcoin doesn't control other coins but the trends of bitcoin often reflect the mood of the whole market, if confidence is high in bitcoin it will be high in altcoins and prices will rise and vice versa.

[nimethasa]

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?

bitcoin not control other altcoin
but all altcoin, or demand in market follow bitcoin price

[shafiqsakri]

i think so, its mother of coin...but maybe cant also... if we see the currency USD is the main...but still not depend on USD...who knows in future other coin will lead instead of btc...just my cent