Altcoin price based on bitcoin price?

[valera10]

It used to be like this. For example, when bitcoin rises, all the other coins follow it. Now this can not be seen, as many coins are already trying to rely only on their product.

[1714866118]

1714866118

[Aleister Crowley]

see this https: //coinmarketcap.com/ every bitcoin volume decreases, altcoi volume goes down, and nothing goes beyond the volume of bitcoin ,, this shows that the effect of btc is very big in price growth .. when we find the problem on the growth of btc as much FUD and some ico are scam. it had a profound impact on altcoin price movements,

[tanghere02]

There is actually no solid proof of evidence it does, however I did observed that every time bitcoin does fall down or decrease its price, most altcoins does the same thing and falls down as well.

[Thirio]

Is price of the altcoin is based on price of the bitcoin?I have noticed the price of bitcoin falling down for past few days on same the price of altcoins are also falling down

I don't really think so, yeah maybe some altcoins do decrease their value as  bitcoin decrease theirs  but there are no real concrete evidence to support this. But it's probably caused by the conversion between them, people who convert tokens to BTC would surely won't exchange until BTC regains its value.

[aardvark15]

Is price of the altcoin is based on price of the bitcoin?I have noticed the price of bitcoin falling down for past few days on same the price of altcoins are also falling down

There seems to be a trend where the altcoins follow Bitcoin so when Bitcoin rises, altcoins rise and when Bitcoin drops, altcoins drop as well. That’s just what I tend to see generally, but there are outliers. As Bitcoin’s dominance drops, I don’t think we will see altcoins tied to Bitcoin quite as much but I think the cryptocurrency markets will always be affected when there are general issues that influence the whole sector.

[khelan]

Yes ofcourse. Because altcoin are traded using Bitcoin. so the price of alt also rise or drop with Bitcoin. Price of alt will rise only when there price will rise with respect to Bitcoin.

[alfs75]

Is price of the altcoin is based on price of the bitcoin?I have noticed the price of bitcoin falling down for past few days on same the price of altcoins are also falling down

will in my own thought there is a connection between bitcoin and altcoin  in terms of price value,because when in times of bitcoin value go down,the altcoins is been also affected and its also going down,while in other hand if altcoins will going dump the price value of bitcoin is never been affected,so therere i conclude that,bitcoin is the mainstream of all price value in the market,because whenever happen in btc in crypto market all crypto coins would been affected.

[Dimon8]

Bitcoin can be compared (although it is not correct) with the stock index, the direction of the price change movement btc determines the direction of movement of altcoins.

[trecore4]

yes the altcoin price is determined from the bitcoin because bitcoin is the parent coin which becomes the largest exchange tool for all coins so if bitcoin price down altcoin will follow to adjust down but if bitcoin rises then altcoin price will also go up after bitcoin price rise

I dont think that it is true. Bitcoin is parent coin and stuff is all okay but just because it was first to arrive doesn't mean that it gives rise to the prices of altcoins. Thats completely wrong one and what factors decide the prices of altcoins is different story. The news, investors, development are major factors who decide the ultimate fate of the altcoin prices. Bitcoin never hampers the prices of altcoins and it will never do that. When we see prices dropping along with the bitcoin then it is nothing but whole market cap drop.

[catubayjhon]

I think theres no direct affect on altcoins but because bitcoin is the most common currency on exchanger it affects the other altcoins.Since most of the people exchange there altcoins to bitcoin so the market takes the volume of the people who exchange so if the other altcoins is demmand it also affect the other altcoins.

[ronafurw]

It used to be like this. For example, when bitcoin rises, all the other coins follow it. Now this can not be seen, as many coins are already trying to rely only on their product.

The market value of the bitcoin really matters a lot and that the market value of this crypto coin also effects the market value of rest of the crypto coins and that this is what happening at this very moment. One of the main reason which is bringing down the market value of all the altcoins is the downfall in the market value of the bitcoin as it gives a bad impression to all the investors who are there in the crypto world.

[kulitmanggis]

yes you are right altcoin price depends on bitcoin price when bitcoin price increases then altcoin price will also increase, when bitcoin price collapsed then altcoin will also collapse.

[vuithoinha]

Bitcoin is the king of this market, the reduction in Bitcoin prices will affect all altcoins. This is completely understandable. When Bitcoin increases again, all altcoins will increase several times the current value.

[traderethereum]

I think theres no direct affect on altcoins but because bitcoin is the most common currency on exchanger it affects the other altcoins.Since most of the people exchange there altcoins to bitcoin so the market takes the volume of the people who exchange so if the other altcoins is demmand it also affect the other altcoins.

there is an effect for altcoin if bitcoin price is down or up because we know that the altcoin following the bitcoin movements in the market. so wherever bitcoin move, the altcoin will follow but this is not applied for all altcoin because I see that there is the altcoin that still moves up whether bitcoin is down and it's not getting the impact. but all in all, I think all altcoin still following bitcoin and altcoin will adjust their price when bitcoin is up and down in the future.

[fasdorcas]

There is no direct correlation, but the price of Bitcoin significantly affects the prices of altcoins."It may be easy to convert it to altcoins, which is the reason for this effect."
If you follow this site -----> https://bitscreener.com, You'll find that some altcoins are high and the other reversed.
In general, yes, the change in the price of the bitcoin leads to a change in the prices of altcoins, not vice versa.

With the development in the cryptocurrency world so far, I would say there is a correlation when it comes to the movement. Although it is not supposed to be, but I guess since most of the alts are tagged in a way to bitcoin and traders just simply want to keep using their alt position to gain more position in bitcoin, there would always be the possibility of seeing this happen. Although, it has become a norm that every trader already think will happen and that simply on its own affects the market.

[henmark]

Is price of the altcoin is based on price of the bitcoin?I have noticed the price of bitcoin falling down for past few days on same the price of altcoins are also falling down

Yes, altcoin price is based on bitcoin price. They are mostly attached in a way to the value of bitcoin and that makes them to respond based on that as well. Most of the time, you cannot always predict the direction of bitcoin, but it is easier to predict the direction of altcoin quickly with bitcoin movement. However, it is not all of them that will always follow that path but just few of the alts will be in green at most times when btc is in red.

[susuberuang]

yes you are right bitcoin price will affect altcoin price because bitcoin price is a benchmark of altcoin price so that when bitcoin price collapsed then altcoin price will also experience destruction. so hopefully bitcoin can be very expensive so altcoin can also be very expensive.

[Rocktop044]

Price of crypto currencies are related to bitcoin price as its the leading coin with the most popularity so when it rises or drops it affects the entire market

[drachman]

Yes, this is still the situation, in most of the time. Probably will change in a couple of years, and there are always some of course, moving solely for a period of time, but generaly, they are moving to the same direction.

It is very unlikely we are going to see any change of that situation in the market bitcoin is still going to be the most dominant coin for a lot of time and it can be argued that many of the current coins would not even exist and this could make the dominance of bitcoin even higher so in my opinion you are mistaken about your prediction I think bitcoin is going to be dominant for decades if not for the entire existence of this market.

[Mastsetad]

I think theres no direct affect on altcoins but because bitcoin is the most common currency on exchanger it affects the other altcoins.Since most of the people exchange there altcoins to bitcoin so the market takes the volume of the people who exchange so if the other altcoins is demmand it also affect the other altcoins.

Although bitcoin do not have any direct relation with bitcoin, but as bitcoin is founder of all crypto currency and still bitcoin is the topmost crypto currency therefore we can say that it will have some effect on their price, if there is panic selling in bitcoin we will even see the whole market as in downward direction.