Do you believe altcoins are supporting bitcoin?

[King Koy]

Altcoins are increasing in numbers and i believe this year and the next to come will bring more altcoin since crypto currency is already gives an impression to the world. Many love to invest their money here bbecause  it becomes  the. easiest way of making money even they are hearing some FUD against it.

Although altcoins getting popularity still its price are dependent on bitcoin. Do you think the popularity of altcoins stand as the great support of bitcoin?

[Tipstar]

To some extent yes, bitcoin is still the top choice for base currency among crypto.
So, most of the price movement of Bitcoin are independent of Alts while Alts price are largely influenced by Bitcoin.

[AndrewBrown]

No I don't believe that is the case, more like altcoins are the reason the money in the market is so dispersed and not in one place which is why prices keeps dropping because people keep selling off their bitcoins to invest in other altcoins and projects which contributes to the drop in prices of bitcoin and other coins that we already invested in.

[Hughesy26]

To some extent yes, bitcoin is still the top choice for base currency among crypto.
So, most of the price movement of Bitcoin are independent of Alts while Alts price are largely influenced by Bitcoin.

Pretty much, this.

I would say though that the price of BTC is not 100% independent of the price of alts. If alts are booming (like they have lately) people will generally hold less BTC as they won't want to miss out on the bigger growth in alts

[icalical]

Hmm, 'supporting' is not the appropriate term I think. The thing is that in major exchanges with high volume like Bittrex and Binance, there are only few of alt-fiat pair. Most of altcoin you want to buy, need bitcoin to buy it. That is why when someone buy altcoin, he/she will need to buy bitcoin too.

[limmousine]

look at the many updates, product releases, or mvp releases that have been done by many projects lately, but they do not provide any real change and growth. that's why bitcoin is still an important indicator to make the movement in alt, whether it will go up or down.

[vv181]

Indeed altcoins are growing exponentially lately but not all the brand new created coin has real usage. There is even a statistic that stated currently, the majority of altcoins is a scam.

About the 'easy money', volatility is heaven for the one who utilitize it right and maximizes all the benefits of volatility. It is indeed the person must real experienced traders. And it also lows capital friendly, since the price swing is tremendous.

The altcoins market still relies on Bitcoin, we can see the only way for altcoins to rise is when Bitcoin stagnant. It is just how the market works.

[bardadymr]

Everything can be. The fact is that if large players will sell Altcoins and buy BTC, there will be a clear difference between the rates that tells us about the negative answer to your question.

[redhondaxrm125]

Altcoins are increasing in numbers and i believe this year and the next to come will bring more altcoin since crypto currency is already gives an impression to the world. Many love to invest their money here bbecause  it becomes  the. easiest way of making money even they are hearing some FUD against it.

Although altcoins getting popularity still its price are dependent on bitcoin. Do you think the popularity of altcoins stand as the great support of bitcoin?

Although great to hear, this really is pretty sad if you think about it because people nowadays are really getting into this industry only for that same reason which is the profits or the thought of getting rich quick which then leads to many losses of capital from non-expecting newbies. This then causes a lot of hate from this newbies calling things scams and all that which makes other people stay away from this industry. Long gone are the days when people who jump into this industry are people who love the technology and stays because of the innovation or solutions it gave. Although we all love profits and all, let us not forget that the main reason for this industry is to turn the monetary systems around in a positive way. Oh well, what can I do, and who am I to talk when I am just a simple bounty hunter wearing a signature to earn some bucks. :/

[qazgroup]

Looks like both of them are complementing each other at the moment, bitcoin is in a kind of consolidation phase that is helping altcoins to grow, bitcoin can break above anytime and travel towards new all time high causing pressure on altcoins.

[grumpylittlepoodle]

In that statement I think altcoin has a great move to supporting bitcoin. But if all coins is still depending in bitcoin, still bitcoin is supporting all coins and still bitcoin can control all coins. Bitcoin is still the king.

[Rollkal]

In my opinion, altcoin is more dependent on BTC. When prices increase BTC altcoin also increase and vice versa. If the BTC collapses there will probably be no longer any altcoin that can survive on the Crypto market.

[Ilmiyati]

yes it could be, altcoin's popularity stands out as a huge support of bitcoin. because without bitcoin, altcoin will not have any value. because some people are only interested in getting to know bitcoin, while altcoin is just a complement.

[Bren Briones]

I think it does support the bitcoin, Altcoins have a big role in the blockchain market for without other coins, there will be no other comparison over bitcoin and there will be no choices. The good thing is that we can compare what to hold because of this.