Why Altcoin prices often follow Bitcoin price

[Jiyens3]

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?

Because this whole thing is not stocks. When bitcoin have it own bull run more people tend to buy altcoins as they feel confidence in the market and because they are looking to get profit they are going into altcoins as with altcoins you can double your money faster than with bitcoin. When bitcoin is moving down there is less confidence in the market and everybody wants to preserve their value they have gained and thus they tend to switch to big cryptos such as Bitcoin, Ethereum or even fiat currencies or USDT - tether to try to save their value from going down.

So at the end as bitcoin is the biggest out there it provides the confidence in the market.

because every bit of Bitcoin is improving, Altcoin is trying to keep up with the increase in order to be a considerable price. so that where Bitcoin is improving Altcoin will try to keep abreast of its development in order to be able to compete and be able to compete well with Bitcoin in the future.

[iASIC]

I think both are connected in a trade that creates a high demand. some users want to make a profit by selling alt and buy bitcoin, some other users sell bitcoin and buy alt. please correct me if my opinion is wrong.

I also agree with you. Bitcoin is the coin first appeared on the cryptocurrency market. The price of bitcoin is always the highest in the market. But today, the need for human development is increasing and the altcoin born to meet that. Bitcoin and altcoin interact with each other. As bitcoin increases or decreases, other co-altcos will also affect bticoin. Because bitcoin is the strongest coin on the market for cryptocurrency.

[skorupi17]

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 do. If you'll analyze the graphs of altcoins and of Bitcoin, you can see major similarities. Even though they are not accurately parallel, the pattern is there. The reason for this is that the altcoins are priced based from Bitcoin and not from fiat. With the direct connection of altcoins to Bitcoin, whatever the trend of Bitcoin, altcoins follows.

[Vilianms]

You may not pay attention to observing the influence of the outside world on the cryptocurrency market. The first is the accusation of many news on tokens! The second is that the exchanges are attacked. These problems attack the entire token market!

[Simayi]

I think we just need to look at the flow of funds into the market will understand that when a sum of money other than cryptocurrencies enters the cryptocurrency, the usual practice is to buy Bitcoin or Ethereum as soon as possible, and then Buy bitcoins or Ethereum to buy altcoins again, so once bitcoin prices fall or rise, altcoins must follow.

[pidobir]

All just Bitcoin is the legislator of cryptocurrency fashion)) that is why the price of altcoins is completely dependent on the price of the main coin.

[arienna23]

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?

It is because atcoins are totally dependent in bitcoin even Ethereum. The price of altcoin are usually base on Bitcoin's price and not in fiat currency. That is why when Bitcoin rise and fall, altcoins will always be affected.

[Panpan66L]

I believe, that this happens because bitcoin is somelike a flagman of a cryptoworld, like whole world smartphones are following apple

[billbear]

Most people think that bitcoin is the only cryptocurrency in the world, so maybe because of that every other alt must follow it

[|Bitkoin|]

It is the trading pairs. Go on any exchange and you will see that all of the coins that are there have trading pairs with bitcoin. When the price of bitcoin is going down, it usually means that people are not buying bitcoin and if people are not buying bitcoins then they are not trading in these coins with bitcoin. The price of all of the altcoins in the market are dependent on the price of bitcoin

[jpnl0002]

it is normal that all coins generally under the name of altcoins must follow the price of bitcoin as they all have their price referencing through the bitcoin price whether directly or indirectly, it actually all works has a value in the satoshi of the bitcoin units. thanks

[Badhuamin]

I think it's because Bitcoin is the mother of all coins and therefore Bitcoin is the benchmark for all coin beneath which Bitcoin is.

[pimkobai]

I had been observing this for quite sometime and my opinion to this is when bitcoin will rise, altcoins will follow probably many people will be buying again more alts. This creates a high demand on the altcoins that in effect the price will also follow to increase.  Bitcoin and altcoi s are mainly correlated with each other.

[childish]

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?

Because this whole thing is not stocks. When bitcoin have it own bull run more people tend to buy altcoins as they feel confidence in the market and because they are looking to get profit they are going into altcoins as with altcoins you can double your money faster than with bitcoin. When bitcoin is moving down there is less confidence in the market and everybody wants to preserve their value they have gained and thus they tend to switch to big cryptos such as Bitcoin, Ethereum or even fiat currencies or USDT - tether to try to save their value from going down.

So at the end as bitcoin is the biggest out there it provides the confidence in the market.

because every development that occurs in Bitcoin, Altcoin tries to follow it and strives to be a coin that is always able to compete with Bitcoin and fight the flooding currents to move forward in the future. besides with its increasing development makes Bitcoin so expensive. and Altcoin is inspired to continue to pursue it.

[jackylion]

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.

Bitcoin has its account over over the other coins. multiple people and multiple country received BTC, do that you want to change the cash must be changed through BTC or ETH, such as the token to be different dependencies on the BTC. I think probably in the following year to BTC will be no be the king on the field, ETH will replace BTC.

[CrimsonGT]

Bitcoin is like a people confidence in the crypto market index. When it grows more people believe the other alts will grow and tend to buy them, so the demand and prices grow and the positive trend starts.

[ROB18]

This is what I also observe, when bitcoin price increase most of the alts also increase and when it decreases most alts also decreases. I guess the mother of cryptocurrency is still in control of the crypto economy.  

[stefven]

of course, we all know that bitcoin is the first cryptocurrency. it can be said that bitcoin is the parent of other coins. certainly, bitcoin prices will be a reference for other coins as well. so it's not wrong if bitcoin prices will affect altcoin prices.

[rodel caling]

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?

In my own opinion bitcoin as king of altcoins are not possible follow the price of altcoins into bitcoin price value if the bitcoin price goes dump of course altcoin price goes lower value but if the bitcoin go uprise the altcoins price will follow to increase in their king.

[dangcaohung]

Because this market is the game of bitcoin. The market capital in Bitcoin is the biggest capital and it is like the Index of stock market. Its also because of market psychology. When bitcoin downs, people dont believe in crypto anymore, they thought bitcoin is the best but still can not servive so how can all the altcoin up. That why they sell the altcoin too, if the bitcoin price is decreasing.