Why Altcoin prices often follow Bitcoin price

[efxtrader]

basically, bitcoin is the first cryptocurrency. can be said that bitcoin be a symbol of cryptocurrency. so as long as bitcoin is still the most superrior coin, then surely the price of bitcoin is a reference for the price of other coins. but not all altcoins follow the price of bitcoin.

Bitcoin price reflecting investor confident. More expensive bitcoin price, more confident investor in market. Most trading pair in market using BTC as benchmark and as biggest liquidity in market, bitcoin will affecting on altcoin price. Beside that, bitcoin dominance in market right now more than 45%

[Raketa7]

Bitcoin is the leader of the crypto world, all the altcoins follow him .  I do not know why this is happening but bitcoin sets the trend

[Axetrd]

Because Bitcoin is like an indicator of whole crypto industry. When BTC rising, everyone transfer their money from altcoins to BTC to earn some money. When BTC down, altcoins also down. And only when Bitcoin isn't moving, it's your time, when season of altcoins starts.

[asus09]

Do they really? I often encounter this statement. And i have no idea as to why. This past few days, bitcoin is on the rise and most certainly than not altcoin's price surely follows. I am not saying this is bad but altcoins have very little in common with bitcoin. And they are certainly not carbon copies of bitcoin either. Why the heck is their price so closely connected despite being so fundamentally different?

this is the difference from bitcoin and altcoin. the influence of bitcoin is very large on growth and decline for all altcoins that have entered the exchange. bitcoin is the first crypto and no one can be managed by anyone or country or company. This is different from altcoins, which has a team and a developer that will be very easy to manipulate.

[mbahsastro]

actually the first, between the altcoin and the instead bitcoin flips. When the price rises, then the bitcoin altcoin going down. and vice versa. However, now that looks altcoin price thus followed the bitcoin. When the bitcoin down, altcoin join the down. This is very troubling.

[boller]

Mostly, the altcoins will follow the Bitcoin price in the market. Only few coins that don't really depend in this first cryptocurrency. I myself think that the reasons may e the first crypto in the world still becomes the standard. We can make some analysis actually. But, it makes sense because many people use this coin as the manner of transaction in buying or selling the coins.

[fitraridwan]

actually, not always altcoin follows the price of bitcoin. there are several altcoins that don't follow the price of bitcoin. although most of them follow the price of bitcoin. which i know is that the price of bitcoin and altcoin are unstable, sometimes rising and sometimes also down simultaneously. we can only follow the plot.

[alloquycrypto]

in my opinion Altcoin and Bitcoin both have large markets and both have high demand. can also be called blood relatives. there are some users who want to get to and sell Bitcoin on Altcoin, or maybe vice versa.

[promotionuser]

That is especially true when co-altcoins do not have a great deal of development.
Often the price of bitcoin affects a lot of the coin involved. Why?
Because bitcoin is the main coin of most currencies in the market

[Katya91a]

I think this is due to the fact that the main currency pair is altcoin to bitcoin. Therefore, any fluctuations in bitcoin reflected in the price alithinou.

[Kakarot01]

I additionally concur with you. Bitcoin is the coin initially showed up on the cryptographic money advertise. The cost of bitcoin is dependably the most elevated in the market. Yet, today, the requirement for human improvement is expanding and the altcoin destined to meet that. Bitcoin and altcoin connect with each other. As bitcoin increments or declines, other co-altcos will likewise influence bticoin. Since bitcoin is the most grounded coin available for cryptocurrency. Everyone wants to follow the topper as bitcoin is always at the top so it happens.

[btctestcolets]

Maybe  this is because both coins affects the trade industry and bitcoin being the legend of cryptocurrency has been the leading of all when it comes to value and popularity. The law of supply and demand may also affect its current pricing.

[oho]

Bitcoin at the moment is the leader of the crypto currency! This is a product of good and competent marketing! And all the other altcoins are not yet known to a wide range of people! And in order to buy altcoins, you buy bitcoin, then it starts to go up!

[Razick]

That is because all of the altcoins have pairings with bitcoin so whatever happens to bitcoin happens to all of the coins that are in the market, if there  is not enough trade volume on bitcoin then that means that there is not enough trade volume on the coins themselves so as the price of bitcoin goes down, so do the prices of the altcoins go down.

[stanforders]

That is because all of the altcoins have pairings with bitcoin so whatever happens to bitcoin happens to all of the coins that are in the market, if there  is not enough trade volume on bitcoin then that means that there is not enough trade volume on the coins themselves so as the price of bitcoin goes down, so do the prices of the altcoins go down.

Yes, generally speaking, bitcoin is most recognized by everyone. It can serve as a vane for the market. When bitcoin goes up or down, other coins react with each other.

[fdsar]

Because ther are close connected with each other. Btc influences on alternative cryptocurrencies and the influence on Btc as well, it is the cycle.

[alister.kain]

I think that the main reason is Btc's dominance on the crypto market which is able thanks to its being foundation of the crypto market among other coins. I am sure that will be changed but totally not in the nearest time, it needs in the base for such great correction.

[Destined]

It is very simple because bitcoin has a very large community. A lot of people use it to transact. In addition, bitcoin is the coin first appeared on the cryptocurrency market
Also, if you look at it, you will see trading pairs on the trading floors that are usually associated with bitcoin 

[Mix_Fix]

Because everything is trading with BTC pair. Without BTC or ETH you can't buy nothing on alts market, so they follow the main cryptocurrencies. I don't love this situation because it doesn't look like decentralization.

[Britanshio]

I additionally concur with you. Bitcoin is the coin initially showed up on the cryptographic money advertise. The cost of bitcoin is dependably the most elevated in the market. Yet, today, the requirement for human improvement is expanding and the altcoin destined to meet that. Bitcoin and altcoin connect with each other. As bitcoin increments or declines, other co-altcos will likewise influence bticoin. Since bitcoin is the most grounded coin available for cryptocurrency. Everyone wants to follow the topper as bitcoin is always at the top so it happens.

I think bitcoin market is the major bases by other coin because this is the one prior promoted coin in this technology and altcoin is just created to support bitcoin as an exchanging payment.