Does ETH movements depend on BTC ?

[dollurs]

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 ?

[Cryppy_guyL]

I think that the etherium does not depend on bitcoin. Even if bitcoin costs 5,000, the etherium will have the opportunity to grow in price further. The price of a particular currency depends more on demand.

[tylerik1]

In the last time I watched both prices and the most times Ethereum followed Bitcoin in the Fiat pairs.. But maybe we will see Ethereum growing alone one day. I think 2018 could be a great year for Ethereum and maybe Ethereum will to grow alone!

[Poink]

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.

[republicrypto]

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 ?

in USD value maybe yes,, wich mean the price of Ethereum is depends the price of Bitcoin in USD
but, as long i know, when the Bitcoin price going down, most of traders will move their investments to altcoin and eth become the best one from many choices,
regards

[prabakharras]

I dont think thats the case anymore.
We have seen ethereum and bitcoin moving separate ways
in fact ethereum is more volatile today https://www.coingecko.com/en/coins/ethereum

[rysea2]

ethereum can sometimes depend on the price of Bitcoin but the end of this Ethereum do its own movement is down quickly. but I think that eth will still have a good future.

[monalia]

ethereum can sometimes depend on the price of Bitcoin but the end of this Ethereum do its own movement is down quickly. but I think that eth will still have a good future.

Ethereum and Bitcoin both are different platform but Price fluctuation is depends on demand and supply so traders are buy both Bitcoin and Ethereum some issues are occur in the crypto platform traders are sell the both Bitcoin and Ethereum in same way. It is the process of price fluctuation I think you should not aware in price fluctuation of cryptocurrency.

[platinov_and]

Now, when the market is in a bad situation, ETH depends on the BTC. But there was a time when ETH was a completely independent coin and the courses of these two coins sometimes moved in different directions. I think, eventually, the price of ETH will go up, at a time when the BTC will stand in place.

[swissgang]

Not only ETH but also all coins' movements depend on BTC, even if they can sometimes pump or dump contrary to btc's movement, still btc's movement has effect on this dump or pump positively or negatively.

[aksay79]

Now, when the market is in a bad situation, ETH depends on the BTC. But there was a time when ETH was a completely independent coin and the courses of these two coins sometimes moved in different directions. I think, eventually, the price of ETH will go up, at a time when the BTC will stand in place.

it is still I doubt if eth will stand alone, I think eth will forever follow the price of btc, you try to see from year to year development eth, so far there has been no sign of eth will stand alone

[Qungis]

Yes, if the market falls, then all cryptocurrencies fall, as you can see. Unlike the stock market, where stock movements are directed in different directions.

[bhantom]

I would like very much that the ethereum grow independent. But probably it will be impossible and always ethereum will be depend about bitcoin. Bitcoin is first coin and rules everyone, that's the rule

[coskunc]

I have seen both cases.
In the bull season ETH was always following BTC.
But while btc was stable eth rised a lot (that was because of the ICOs based on erc 20)
So we cannot be sure, NEO stratis can slow down the independent rises of eth in the future

[bratko99]

Yea it depends.
I feel like everything depends on BTC. Since it's the largest coin with a crazy 24h volume.
People use BTC to buy ETH. Like 80% of them actually. Also coinmarketcap has a big value on this.

[3DBrushes]

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 ?

Not only ETH, each and every coin's price depends one the Bitcoin's state and time as of now. This may or may not change in the future. Atleast for some years it won't change. If BTC falls considerably low now then you will see immediate free fall of Ethereum also. This has happened many times in the past also.

[licemer11]

In my opinion, the ETH rate depends mainly on market sentiment and speculative demand

[jacafbiz]

Ethereum has tried to be independent of the price of BTC, but for now I thin all the Altcoins market depend on BTC, just imagine of the price of BTC happens to be $20k the price of Ethereum would be around $1000. I don't think $400 price range is a bad support for ETHEREUM because I feel we are close to its bottom

[jagdeepjd]

There are only few coins which holds their positions well in the bitcoin dips even they fail to hold that position consistently on those dips.

So Not only ETH almost every altcoin depends on bitcoin price actions as most of the coins are pegged to btc. We may see some different situations in future when we will have USD/USDT pairs for most of the altcoins.

[cannycassiopeia]

This is what most of the traders are doing now. Just because Bitcoin's price is falling down, traders thought that altcoins will fall down also. Altcoins' prices are independent and shouldn't be based on Bitcoin's price.