Why Altcoin prices often follow Bitcoin price

[PinkFox]

Indeed it is a strange behavior, because normally when one asset rises, the others have to go down with respect to the one that rises. Perhaps its one of the many mysteries of crypto currencies.

[cryptman77777]

Undoubtedly, by and large, altcoin's depend on the "big daddy" of BTC, although it happens quite the contrary, as they said earlier <Bitcoin is sold for purchase Alt>. Most altcoin's I believe is also dependent on Ethereum. I do not have enough experience to say for sure, I only delve into the cryptocurrency market every day and am glad to learn to understand it. If somewhere is wrong, then correct me!)

[Omtamvan]

because bitcoin also requires bitcoin so altcoin also requires bitcoin because both coins need each other and thus if bitcoin is down and altcoin also follow its movement because of the parent bitcoin of all altcoin

[louie69]

I had been observing the cryptomarket for almost 6 months now and I usually observe the same thing if bitcoin goes up, every altcoins will dramatically follow. I believe that altcoins and bitcoin are correlated with the other where Bitcoin is the baseline for every market movement in the crypto world and I believe that my observation is near from the actual situation. My thoughts though.

[ligerti]

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?

BTC is the first currency of crypto. Enjoys wide popularity with a huge margin. Therefore, it has an advantage in the market, as the price of BTC increases, so does the cost of many other coins.

[belcini]

Also noticed that with the decrease in the price of BTC cheaper and some other coins. After all, this is actually the market leader, which stabilizes the price in the crypto market.

[prdn]

Actually kucoin is a nice and easy exchange to use but there is a curse on kucoin, listed coin falls low

[xanaxxx]

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?

Not all altcoins, but if you imagine that there are no significant events for given altcoin, it's very likely its price will follow bitcoin movement. It's natural because mostly the updates on bitcoin regulation etc directly apply to altcoins either

[bibitao58]

May be it is because all alts are trading against bitcoin and orders are agaist bitcoin, so when bitcoin price to dollar changes, altcoin price to dollar also changes. But may be I wrong.

[hellyeahent]

The course of many altcoins follows the BTC, this is a normal situation. After all, the main coin of the market became the basis for the formation of the courses of many other coins.

[sam53]

Because Bitcoin is the king of cryptocurrency world and I think almost altcoin on the crypto market also have pairing ALT/BTC and ALT/ETH if they listed on exchange . Only few good altcoin can have pairing ALT/USDT. I think it's the only reason why altcoin price often affected by by Bitcoin and Ethereum price

[ynclksnr321]

Sometimes I almost always witness it. Whenever Bitcoin is moving, almost all the altcoins become one place. I think the incomprehensible side is bitcoin, but altcoins are falling, and if they are not, they are falling. In the end we are always losing

[a2offrb]

Bitcoin can never be compared to Alts because it is the mother coin, the pioneer coin well known globally by both users and non users, including investors/traders knowledgeable about it or not. I feel the dump of Bitcoin at its bearish period are in most cases lead to the boom of some Alts at an advantage then, where the price shall increase, while on the other hand, the boom of Bitcoin at probably the bullish period leads to the fall in value of some Alts or high following suit the trend of the Bitcoin hike.

[bibitao61]

May be it is because all alts are trading against bitcoin and orders are agaist bitcoin, so when bitcoin price to dollar changes, altcoin price to dollar also changes.

[neilsamson443]

Some alternate coins follow Bitcoin because it has become a basis of prices for almost every other alternate coins and Bitcoin is one of the fastest way to convert it into real money and because of this reason, it follows the price of Bitcoin to set their own standards.

[Arcoin1]

All money coming out of the crypto money world is BTC based. The creator of the money world, Bitco. It has been a long time to establish a connection to the pazara and to gain value.

[Mind Control]

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?

They do. I have answered a similar topic regarding this one and justified the answer using this example:

" Let us take ETH for instance. If you want to buy/sell ETH in BTC Market (ETH/BTC), the price is in terms of BTC (i.e. 1 ETH = 0.1 BTC). So if the value of 0.1 BTC now is $700 then 1 ETH = $700, after a day the value of 0.1 BTC went down to $600 then the value of 1 ETH would be $600 as well (saying that the conversion factor of 1 ETH = 0.1 BTC does not change). "

We often experience this when the price is dropping than when the price is increasing. This may be because there are more transactions when the price is increasing, thus, there's much volatility. On the other hand, when the price is decreasing, there are less transactions and the price of altcoins solely depends on Bitcoin's.

[Jashhh]

Or is Bitcoin following the price of altcoins? Ethereum dropped so heavily because authorities want ico regulations. I think. So maybe altcoins (and bitcoin) follow Ethereum. If Ethereum drops, people buy it because the price is better. And what do they buy it with? With the selling of other coins. This is how the whole market dips when Ethereum makes huge drops.

[Scripture]

Maybe because bitcoins price becomes the standard value of all altcoins and they somehow depend on that. Given also the fact that bitcoin is the pioneer and oldest coin or cryptocurrency existing on cryptoworld. As long as you will get profit, its good.

[kicauklaten]

altcoin there after bitcoin began to grow. they follow a bitcoin because bitcoin was the first or King in crypto. even though it is actually not very fair because altcoin also has the potential to be more than it is these circumstances, however, bitcoin that currently exists. Maybe in the next few years, this system will change and it will appear altcoin that can thrive even though there is no role of the bitcoin.