Are Bitcoin, Ethereum, and Litecoin joined at the hip?

[Down Not Dead]

I look at their charts daily and they are always almost identical. Do they need each other to perform properly? Forgive me if this seems like a noob question.

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[pooya87]

no they are not.
ethereum, litecoin, and the rest of the altcoins sometimes take the "tail" of bitcoin and go down with it whenever bitcoin goes down. they sometimes follow it when it recovers but they usually don't follow it when bitcoin rises.
in any case the dump always affects altcoins more.

[HabBear]

I look at their charts daily and they are always almost identical. Do they need each other to perform properly? Forgive me if this seems like a noob question.

Noob questions are OK, as long as they're honest and not for answers that can be found on this forum with a quick search.

These currencies are linked only by the investors that hold them. A lot of people own Ether and Litecoin, and of course everyone who owns those two own Bitcoin. So when the market turns sour (or appears to turn sour) people unload all three, move it into fiat cash or a more obscure (and more stable) crypto currency.

I'm sure others have great opinions to add.

[BTCLovingDude]

in my opinion there is no logical answer to this question and it is not just ETH and LTC. as far as i can tell every altcoin is following bitcoin and it is actually mostly visible during the drops not the rises.

for example when bitcoin went from $8000 to $20,000 in a month last year, altcoins went up but only a little bit.
but when bitcoin fell drop $20,000 down to $8000 altcoins dropped harder, each losing 60%-80% of their value.

[Jlimao28]

in my opinion there is no logical answer to this question and it is not just ETH and LTC. as far as i can tell every altcoin is following bitcoin and it is actually mostly visible during the drops not the rises.

for example when bitcoin went from $8000 to $20,000 in a month last year, altcoins went up but only a little bit.
but when bitcoin fell drop $20,000 down to $8000 altcoins dropped harder, each losing 60%-80% of their value.

Yes. The three cryptocurrencies are not interconnected to each other. Though there are times that the cryptocurrencies are simultaneously goes down and rise up, the price of individual is different from others. I think that the reason why it seems like they are performing identical is because the LTC, BTC and ETH are in the top list of CMC and that's why sometimes when the demand for cryptocurrency is high, the three of it will the first bought in the market.