Why Altcoin prices often follow Bitcoin price

[Siren]

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?

Being a pioneer and the number one cryptocurrency,it is normal that the market prices will rely on what bitcoin’s performing,because this is the most popular coin and this can dictate the flow of market,what we need to have is the good altcoins,those legits and not the shit ones whos being dumped incase the dev dont get good profit

[JPablo]

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?

Yes, they follow the flow of bitcoin even in the market. I think because of coin are pair with the bitcoin so they depends in bitcoin price.

[Koobtcgal]

the whole idea is that most people hodl bitcoin and it is the profits from bitcoins that they use to invest in altcoins. Now when the price of bitcoins starts falling, everyone looks for a way to keep their coins stable without losing their usd value equivalent. This tension is also extended to the altcoins with the fear that they might also fall making everyone to change to a stable coin and then all crypto start seeing a blood bathed market.

[senin]

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?

Cryptocurrency really repeats bitcoin price movements and this is due to the high level of bitcoin capitalization. This circumstance allows Bitcoin to exercise price dominance over other types of cryptocurrency. I personally do not like it at all. A decentralized cryptocurrency, I think, does not need a price dictate. It seems to me that with time the situation will change and the decentralized cryptocurrency will gain decentralization in this matter too.

[elenka n]

Because of the binding pairs of bitcoin-altcoins.  Because of this, not often, but always after the fall of Bitcoin immediately go down and the rest of the coins!