Does ETH movements depend on BTC ?

[lelou]

A little bit imo especially in the early times of ethereum but now eth became big and pegged in usd.

[mpeis007]

A little bit imo especially in the early times of ethereum but now eth became big and pegged in usd.

It is very much so these days also.

[avp2306]

Yes clear and definite. Because the basic benchmark ETH price is on Bitcoin (BTC) is not even just ETH almost all altcoin is based on the Bitcoin price. If bitcoin is at an ETH low price it will also be so, otherwise VC at other high ETH and Altcoin prices will be high. Bitcoin is very influential with price stability in the cryptocurrency market.

ETH has its own price mark but for the current crypto market collapsing maybe the price value of ETH has been drag down for the current situation. But I don't think ETH has been relying on bitcoins price since if you look closely on it you may define that some of the coins right now are also depends on ETH.

Let see how things will go with it since it so sketchy to tell on wheter it rely or not.

[Saidmod]

You all know that after a huge price fall most of the crypto currencies have now come to their previous support levels. ETH has reached its previous November resistant level ( Now it is a support level ). The Support is at around $400 level and the level is a pretty strong one. But for BTC it needs to go further more down to reach its support level ( previous resistant) usually can be found around $5000. So my question is even ETH has come to its one of a good support level, can it go more down if BTC falls near that $5000 value ?

We can never say tht it ws a strong support enough to holdand resist the bitcoins massive dumping when it continues to fall down and for me it can be broken anytime so it would be great to have a stop loss than if you have eth now. Eth cannot stand with a massive dump and it rely on the bitcoin market dominance.

[mikyadel]

Not only ETH ,But every coin depend on Btc as it's the Brand name for the whole field .although,Btc has to stabilize in price first Before other coins start to recover.

[kronos123]

In this first part of 2018 virtually all currencies are following the bearish bitcoin trend, while last year it was not so. I remember that bitcoin started at about $ 1000 in 2017 and it took us quite a few months, up to the summer, to rise sharply and get over $ 2000, while on almost all the other coins we saw significant increases in about 3-4 months. , from February to June.

For example, in these months, Eth went from $ 10 to $ 300, $ 15 to $ 200 Dash, $ 0.10 to $ 1 Neo, and so on.

Now it's all more related to bitcoins, and this really sucks!

[YinShuiSiYuan]

Not only eth but all altcoins depend on bitcoin. The whole market depends on how bitcoins behave. The currencies form pairs that directly affect their increase or decrease.

[carlisle1]

For the most part, ALL alts move along with BTC price proportionately.  Some may vary depending on unique circumstance of the coin in a given point in time.

Just look at coinmarketcap.com and check the weekly graphs.

The usual cause of deviation is when BTC rise too fast that the effect becomes inverse and most alts will decrease, just because people sell alts (even cheaply) in attempt to get more BTC.

Nice sight on that one mate,but its indeed when the price grow many users think that this is the pumo for bitcoin again.thats why they selling all altcoins to purchase bitcoin but sad to say.most of the fails as bitcoin after has dropped again,the grow then drop,same scenario weekly as you can see

[airdropan]

i think yes
eth not strong yet to deffend from this bad market
when btc down eth will down too , look like all coin/market follow btc trend

[mahoni2100]

these two coins are in a great relationship with one another, so they are mobilized and affect one another.

[Cmoh]

By looking at the trend not only the ETH but all the cryptos are showing a positive correlation with the Bitcoin. If Bitcoin is moving downward the sooner or later others are also declining with their value by some more or less. So, we can say that there is a deep correlation in the crypto market with the Bitcoin and can be gauged as an Index of the market.

[Dalazar]

From BTC depends not only  ETH but and all the cryptocurrency as a whole. Otherwise, the price of altcoin will not decrease with the price of BTC

[Dagser]

Well If Bitcoin fell from 20 to 6.5k in some period of time we can't expect that Ethereum holds his max price of 1430$ at the same time. So in that way, yes, but the whole market went down as investors pulled out their money out from every coin. So if we look it like this then no. Ethereum will be more independent when his development gets into a serious phase and we can see a more useful coin that actually works in the real world.

[Flor1982]

You all know that after a huge price fall most of the crypto currencies have now come to their previous support levels. ETH has reached its previous November resistant level ( Now it is a support level ). The Support is at around $400 level and the level is a pretty strong one. But for BTC it needs to go further more down to reach its support level ( previous resistant) usually can be found around $5000. So my question is even ETH has come to its one of a good support level, can it go more down if BTC falls near that $5000 value ?

I say yes it is and i believed that it really started during the huge price fall or during that ultimate dip in which i think that the investors are now are in trauma to panic in which i have observed the market will become red after Bitcoin is starting to red again so maybe most of the holders are just over protective of their Ethereum in which I'm afraid not only Ethereum but most of the Altcoins too.

[ledinasaliasi]

i think it may not be correct to say the price of ETH depends on BTC all the time, i know that the price of btc always dominates altcoins so it can control entire markets everytimes it moves, but not all the time, there will be the time when investors stop pumping BTC and change into ETH instead to dump btc in order to correct the price back to normal, so sometimes ETH movements can effect the BTC price.

[jeda2000]

Since Bitcoin is the flagship of this market, any surge affects other crypto currencies as well. Ethereum relies on each other relatively because they are in the same market after all, although they are rival.

[BattleZeo]

You all know that after a huge price fall most of the crypto currencies have now come to their previous support levels. ETH has reached its previous November resistant level ( Now it is a support level ). The Support is at around $400 level and the level is a pretty strong one. But for BTC it needs to go further more down to reach its support level ( previous resistant) usually can be found around $5000. So my question is even ETH has come to its one of a good support level, can it go more down if BTC falls near that $5000 value ?

I think the bitcoin have impact to the whole market and every coin, including ETH. Now there are more different ways to get bitcoin than ETH. Someone might buy ETH using BTC. BTC value falls the ETH might fall too because they are connected.

[DiceChain]

I think yes. All altcoin conditioning depends on the price of bitcoin. ETH too. If btc is up then ETH will be up. and vice versa

[BrowserOne]

It all depends of the marketcap. If it dump everything dump.

[torrantz]

By looking at the trend not only the ETH but all the cryptos are showing a positive correlation with the Bitcoin. If Bitcoin is moving downward the sooner or later others are also declining with their value by some more or less. So, we can say that there is a deep correlation in the crypto market with the Bitcoin and can be gauged as an Index of the market.

Alright majority of them. Said bitcoin was controlling anything related to the result of the dollar price for all of the cryptocurrency right now. It looks like they are all going straight with bitcoin.
But it looks like some parties are doing the same thing at the same time. Some people are thinking that doesn't make sense to see correlation between everycrypto.