Does ETH movements depend on BTC ?

[Ai7xpressTV]

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 ?

Nearly all cryptos out there depend on their "mother" Bitcoin.

But when ETH breaks free from BTC moves it is mostly start of the new altcoin season.

[AngelSky]

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.

When we hear any news opposite to the bitcoin, alts and ICO. First many new traders converting those cryptos for fiat cash or cheap altcoins. If they do it, they will be price manipulation through all the cryptocurrencies.

If we all crypters think well about the price fluctuation and avoid the panic sell means you will not find the price bump at all. So understand bitcoin and alts are volatile in nature.

[okala]

Bitcoin  is the dominant coins so there is no way it will not affect other altcoins. Bitcoin has great influence on ethereum and others majors cryptocurrencies and I think it will take a very long time before there can break this dominant. I have been following cryptocurrency pricing and about 99% of them do fell when bitcoin is falling and rise when it is rising.

[ajoy]

I think it does not just ethereum is falling because of the prices of bitcoin,  and I see all of the coins are falling depends on the bitcoin

[BitSat]

Bitcoin is mother of all Alt Coins so I believe its depend on this also even many coins using this and ether is going more stable but still if bitcoin going green we have some good impact on this also and if its going in red this also have same impact on this so without bitcoin no coin can do good even its ether we would like very much that the ether grow independent. But probably it will be impossible and always ether will be depend to mother bitcoin

[Entei]

We can think of the following way: Ethereum is one of the few that resists a brutal downfall of Bitcoin but unfortunately with regard to price is not indenpendent against Bitcoin. In short, not only Ethereum but all currencies depend on the steps of Bitcoin and depend on the great investors of Bitcoin.

[SPINPIX]

ethereum as all other cryptos mostly follows bitcoin's movements. bitcoint is still too important compared to all the other altcoins  (it's rapresent the 50% of the marketcap) so if it falls all other alts will probabily follow him and when it pumps the alts usually dump because people change their alts in btc to not loose in btc ratio.

[bitterguy28]

I think have a little effect for ethereum and other altcoins value if bitcoin price dump in the market, but not totally. Depending in bitcoin their value its depend on the the volume demands investing in the ethereum become the price uprise in the marketcap.

[8rch7]

I think yes, but not entirely dependent on bitcoin prices. if I describe with numbers, maybe about 20% - 30% depending on the price of bitcoin. this is more to market behavior, when there is an issue of bitcoin, it is likely the market will respond by buying or selling the bitcoin.
when traders sell bitcoin, the proceeds from the bitcoin, they are likely to switch to altcoin (most prefer ethereum I think). or when a trader buys a bitcoin, to buy the bitcoin, they probably sell altcoin first.

[castiloros]

to this day if I notice the ethereum always follow what experienced by bitcoin. I know that is a strong coin ethereum, but may still need the help of the bitcoin for the price adjustment. do not cover the possibility of later ethereum could be without following the value of bitcoin.

[removebeforeflight]

Yes. Ethereum price would rise or fall based on Bitcoins price, not only Ethereum all the altcoins price follow Bitcoin price. Some may get reflected Bitcoin price bit late but everything depends on it either a blood path or a bullish path.

Crypto currency market is totally based on Bitcoins price I think.

[LaLegiste]

I was watching CMC graphs of top20 currencys during january's BTC correction closely. Most of the currencies had "index of following BTC price" about 0.9. For sure ETH had the best perfomance with it's 0.6-0.7. And i expect it to become even more stable to BTC price fluctuations with it's utility as a payment method for most of coming ICO's. Because ICO market is growing fast and we should expect many exciting improvements from ETH team this year as well. But of course while BTC has about half of crypto market capitalization every Altcoin will follow it.

[Elcapsono]

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 ?

There is a small dependence, it's like bitcoin rose and the ether says it, and that I can not do it. Of course, basically the growth depends on demand and liquidity and these are the main indicators and not the price of bitcoin.

[zhelis74]

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 ?

There is a small dependence, it's like bitcoin rose and the ether says it, and that I can not do it. Of course, basically the growth depends on demand and liquidity and these are the main indicators and not the price of bitcoin.

Well, base on my own observation i can say that ethereum movement or value changes is affected by bitcoin value because the popularity of bitcoin makes it the target to acquire of most trader around the world particularly the day trader, they hold ethereum to trade for bitcoin and therefore if the value of bitcoin rise then they will sell there ethereum for bitcoin and more selling will make it dump and thus affect its value.

[Manc89]

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 ?

So far i know yes its depending bitcoin movement but in fiat comparison because etherium normally pair with bitcoin in term of fiat comparison.
But in real value its not always depending on bitcoin price. Mostly yes but not always.

[lobo13hf]

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

That only just follows the bitcoin on the USD price. ethereum has different sentiment and demand than bitcoin. It should not be following bitcoin but in fact, the trend was making it looks so similar.

This is crypto when everything pegged to the trend.

[jackylion]

Currently almost all altcoin are dependent on the price of the BTC, if the BTC increase they increase and the discount BTC will decrease accordingly. I think in the future BTC will no longer affect the market anymore. ETH will be the strongest coin.

[jaocoincrypto18]

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 have observed many times now that the price of Altcoins specially ETH were in dip every time that BTC will go on dip. Maybe ETH will always depend on BTC because most of the local exchange around the globe are using BTC platform as the only recognized and accepted coin for every fiat conversion that is why most of the altcoins and ETH are Bitcoin dependent. If local exchange will just accept different kind of Altcoins in every fiat conversion then i believe that Altcoins and ETH will start to make a different path of movement because they don't need to trade to BTC anymore for fiat.

[Herbert2020]

yes and no.

like any other useless altcoin, Ethereum is also pumped and dumped so it means that ETH will also only move based on pumps and dumps of its own and in this regard it won't be affected by bitcoin price movements.
but at the same time it is just another altcoin on the altcoin market and although some newbies may think it is something special and also the advertisement in the media may tell you so but in reality it is just another pump and dump altcoin among thousands of others. since the main purpose of these coins is to give profit on bitcoin investment, so their prices will be affected by bitcoin price movements.

[Restu Siregar]

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.