Bitcoin and Altcoin Correlation

[jerry0]

I had thought a while back people said if you are betting on altcoins, you are essentially betting against bitcoin.  However how is this even the case or is this statement wrong?  Because when bitcoin goes up, the altcoins basically all go up.  If bitcoin goes down, all altcoins basically go down.  Aren't they essentially correlated?


So let say you believe in bitcoin and buy bitcoin because you believe value will go up.  Well if you buy altcoins, isn't it very likely if bitcoin goes up, then your altcoin will also go up?  The only difference basically comes down to do you think that altcoin will grow a higher percentage than the bitcoin?  Thus thats the only question you should ask before you convert btc to altcoin?


Because if bitcoin fails, well aren't all altcoins going to fail?  And if bitcoin goes up etc, well then isn't almost all the altcoins going to go up?  The thing that i want to ask is also this.  If btc goes up, then aren't essentially any altcoin let just say in the top 30 altcoin list going to basically go up?  Thus some go up more than others etc?  Because people say to buy this altcoin such as say dash or monero or iota.  However, if btc goes up, does it even really matter?  I watched a video where someone mentioned in a bull market, everyone thinks they are a genius.  Well if its a bull market, does it even matter which coin you really buy?  Like if you were told bitcoin will go up today, well does it matter if you buy iota or deeponion or monero?  Because bitcoin basically controls the entire crytocurrency market right?  And is it even possible for bitcoin to do really bad and the altcoins go up a lot?  Or if bitcoin goes up a lot and altcoins go down?  Because i dont think i seen any graphs or charts like this.  Basically everything follows bitcoin.  So its basically saying... if you believe in bitcoin and it will go up, well you can buy bitcoin and hold it or just buy altcoins since it will also go up.  Its like does the projects of each of these coins even matter anymore?  Literally everything goes up on the list.  Its like what research do you even need to do.  Like if you were told okay bitcoin will go up a lot today, well you could just randomly buy 10 different altcoins in the top 50 even and almost all will go up right?  Because my issue with the crytocurrencies is basically bitcoin seems to determine everything.  Why isn't it like bitcoin goes up a decent amount, and say 1/2 the altcoins do decent and 1/2 the altcoins do bad etc.  Like to hear all your feedback on this.

[bituperio]

I had thought a while back people said if you are betting on altcoins, you are essentially betting against bitcoin.  However how is this even the case or is this statement wrong?  Because when bitcoin goes up, the altcoins basically all go up.  If bitcoin goes down, all altcoins basically go down.  Aren't they essentially correlated?

There are too many people that are too much into Bitcoin and see anything else as a threat. Alts are heavily correlated to Bitcoin due to the trading pairs in the markets and they make bitcoin more valuable making it more useful to trade.

[zenhu]

Bitcoin and alt have so many different, i mean from market capitalization and popularity, total amount of coin, transaction speed etc. Each cryptocurrency have its own advantages over another. And what ever cryptocurrency you chose not really againts another in my mind.

[MrJake]

I had thought a while back people said if you are betting on altcoins, you are essentially betting against bitcoin.  However how is this even the case or is this statement wrong?  Because when bitcoin goes up, the altcoins basically all go up.  If bitcoin goes down, all altcoins basically go down.  Aren't they essentially correlated?


So let say you believe in bitcoin and buy bitcoin because you believe value will go up.  Well if you buy altcoins, isn't it very likely if bitcoin goes up, then your altcoin will also go up?  The only difference basically comes down to do you think that altcoin will grow a higher percentage than the bitcoin?  Thus thats the only question you should ask before you convert btc to altcoin?


Because if bitcoin fails, well aren't all altcoins going to fail?  And if bitcoin goes up etc, well then isn't almost all the altcoins going to go up?  The thing that i want to ask is also this.  If btc goes up, then aren't essentially any altcoin let just say in the top 30 altcoin list going to basically go up?  Thus some go up more than others etc?  Because people say to buy this altcoin such as say dash or monero or iota.  However, if btc goes up, does it even really matter?  I watched a video where someone mentioned in a bull market, everyone thinks they are a genius.  Well if its a bull market, does it even matter which coin you really buy?  Like if you were told bitcoin will go up today, well does it matter if you buy iota or deeponion or monero?  Because bitcoin basically controls the entire crytocurrency market right?  And is it even possible for bitcoin to do really bad and the altcoins go up a lot?  Or if bitcoin goes up a lot and altcoins go down?  Because i dont think i seen any graphs or charts like this.  Basically everything follows bitcoin.  So its basically saying... if you believe in bitcoin and it will go up, well you can buy bitcoin and hold it or just buy altcoins since it will also go up.  Its like does the projects of each of these coins even matter anymore?  Literally everything goes up on the list.  Its like what research do you even need to do.  Like if you were told okay bitcoin will go up a lot today, well you could just randomly buy 10 different altcoins in the top 50 even and almost all will go up right?  Because my issue with the crytocurrencies is basically bitcoin seems to determine everything.  Why isn't it like bitcoin goes up a decent amount, and say 1/2 the altcoins do decent and 1/2 the altcoins do bad etc.  Like to hear all your feedback on this.

I've had the same post about the correlation of bitcoin and altcoins. Well as we all know most of the alt coins are also derived from bitcoin. What i think is that in order for a certain altcoin to have value an the existing value of bitcoin must be utilized so that the flow of currency will be balanced. About the trade and how each of the altcoins follow BTC, well simply becuase these coins are derived from btc and inorder for us to convert it to any conventional currency it must go through btc. 

[jayc89]

I had thought a while back people said if you are betting on altcoins, you are essentially betting against bitcoin.  However how is this even the case or is this statement wrong?  Because when bitcoin goes up, the altcoins basically all go up.  If bitcoin goes down, all altcoins basically go down.  Aren't they essentially correlated?


So let say you believe in bitcoin and buy bitcoin because you believe value will go up.  Well if you buy altcoins, isn't it very likely if bitcoin goes up, then your altcoin will also go up?  The only difference basically comes down to do you think that altcoin will grow a higher percentage than the bitcoin?  Thus thats the only question you should ask before you convert btc to altcoin?


Because if bitcoin fails, well aren't all altcoins going to fail?  And if bitcoin goes up etc, well then isn't almost all the altcoins going to go up?  The thing that i want to ask is also this.  If btc goes up, then aren't essentially any altcoin let just say in the top 30 altcoin list going to basically go up?  Thus some go up more than others etc?  Because people say to buy this altcoin such as say dash or monero or iota.  However, if btc goes up, does it even really matter?  I watched a video where someone mentioned in a bull market, everyone thinks they are a genius.  Well if its a bull market, does it even matter which coin you really buy?  Like if you were told bitcoin will go up today, well does it matter if you buy iota or deeponion or monero?  Because bitcoin basically controls the entire crytocurrency market right?  And is it even possible for bitcoin to do really bad and the altcoins go up a lot?  Or if bitcoin goes up a lot and altcoins go down?  Because i dont think i seen any graphs or charts like this.  Basically everything follows bitcoin.  So its basically saying... if you believe in bitcoin and it will go up, well you can buy bitcoin and hold it or just buy altcoins since it will also go up.  Its like does the projects of each of these coins even matter anymore?  Literally everything goes up on the list.  Its like what research do you even need to do.  Like if you were told okay bitcoin will go up a lot today, well you could just randomly buy 10 different altcoins in the top 50 even and almost all will go up right?  Because my issue with the crytocurrencies is basically bitcoin seems to determine everything.  Why isn't it like bitcoin goes up a decent amount, and say 1/2 the altcoins do decent and 1/2 the altcoins do bad etc.  Like to hear all your feedback on this.

I've had the same post about the correlation of bitcoin and altcoins. Well as we all know most of the alt coins are also derived from bitcoin. What i think is that in order for a certain altcoin to have value an the existing value of bitcoin must be utilized so that the flow of currency will be balanced. About the trade and how each of the altcoins follow BTC, well simply becuase these coins are derived from btc and inorder for us to convert it to any conventional currency it must go through btc. 

Many coins have various uses that can either keep Bitcoin stay afloat or it could damage the credibility of Bitcoin. I would only invest in coins that help Bitcoin stay afloat.

[Tharel]

Bitcoin movement generally affects altcoins prices because Bitcoin is the center of the crypto economy and with BTC trading pairs on every exchange, the gravity of Bitcoin is hard to escape. This is an advantage for people who monitor Bitcoin’s price closely, as it can help tell you about what the entire market will do.

[nightmanisrightman]

They aren't necessarily correlated as we know correlation isn't causation but there is a good chance one effects the other. Previously last year I noticed there was an inverse relationship most of the time but things change over time and the market is quite dynamic. Don't expect one trend to stay the same, what matters most is where people are putting there $.

[aussiesloth]

The reason I see for the correlation in price fluctuation is because so many coins are traded and valued by their Satoshi value.

If a coin is trading at 10000 Sats, then if Bitcoin price fluctuates, so does the relative fiat value of the Altcoin being traded.

If Bitcoin price falls from $15k to $7.5k, for example, the 10000 Sats halves in value, meaning the Alscoin value is halved.

[Duzenn]

I think there is a correlation between the price of bitcoin and altcoin.
Because when bitcoin is soaring, people will consider selling altcoin to buy bitcoins, so there is a lot of money flowing into bitcoin from altcoin, and the price of altcoin will plummet.

[robynmario]

I think bitcoin and altcoin have some impact and correlation. Of course, the value of bitcoin and altcoin in the crypto market is based on supply and demand, all expressed in the number of sales and purchases. Growth is natural. However, bitcoin values ​​and altcoin conversions at different times have different values. For example, when bitcoin depreciates, investors will sell the BTC and investing in Altcoin will produce the bandwagon effect or vice versa. This keeps the coding market special and fluctuates continuously over time.

[lero34]

There is similarity. I would say that bitcoin directly affects altcoyin and it's sad. But altcoyin is at the moment ahead and its dynamics of growth is very different. I think the future is for him.

[novocaine]

The correlation between Bitcoin and all others altcoins is the halving of the value when for example the BTC fall to 10-20% will consequently drop down others cryptos aswell..

Do not forget about big whales price speculations to keep the price low and buy then with more capitalization

[jomvill]

 the correlations between BTC and Altcoins which was updated today. This is useful for those investors who want to see the relationship between all cryptocurrencies, and how they perform relative to the movement of the market.

[Kate Beckett]

Almost all crypto-currencies have a positive correlation among themselves. The crypto market as a whole reacts to the same factors, the general capitalization of the crypto market fluctuates with respect to some external factors, the crypto-currencies, in general, move synchronously. The crypto market as a whole has an inverse correlation to several known fundamental indicators. It has a negative dependence on the US stock market S&P500 and on the VIX volatility index, which assesses investors' risk appetite. At the same time, with gold, the dependence is weakly positive.

[acquafredda]

Like it or not Bitcoin is leading the charge. Every flippening attempt has been demolished so far (remember Ethereum? Remember Bitcoin Cash?)
For the moment Bitcoin has a huge competitive advantage against, basically, all the altcoins. It will take much more than ICOs and low fees to remove Bitcoin from its spot.
Thinking of a correlation, yes, there's absolutely! This ecosystem needs Bitcoin