Altcoin price based on bitcoin price?

[Itjoker]

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

Moreover all of us know that altcoins price will fall if Bitcoin price goes up. Because almost all cryptocurrencies have Bitcoin as basis cryptocurrency for trading in exchanges. That's why they correlated so hard.

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[gurupauts]

almost all altcoins do have prices based on bitcoin prices so that when the price of bitcoin drops, the altcoin prices will also go down and if the price of bitcoin rises then the altcoin price also rises, but not all altcoins have prices based on bitcoin because there are some altcoins that will have prices high when the price of bitcoin falls because it depends on the development of the altcoin

[Maricel2017]

That is what i think that the value of altcoin was based in bitcoin value, but more likely the growth of the altcoin will based on the progress of their project and on how the management promote it to beat other altcoin and make their coin more popular to make more investors get their coin.

[kominfo.id]

yes, of course this altcoin price depends on the price of bitcoin because this altcoin price will be an alternative coin to say because when bitcoin goes up, the transaction will be crowded and the delivery will be very long and certainly will require an altcoin to send from markets to other markets.

[Jokerrrrrr]

Altcoins prices are affected by Bitcoin price movements may be due to several reasons
- Bitcoin is the most dominant coin in crypto market (approx 50% dominance now)
- almost all altcoins are traded in Bitcoin market with enough volume as compared to other markets
- volume of bitcoin is nearly around 30% of total volume which means most of the traded funds moving according to Bitcoin that's why whole market is being affected by Bitcoin movement
But this is not always true becoz it depends on market trends,TA, FA and many other things

Also there are many ERC- 20 tokens which have market only in ethereum and these tokens are affected too by ethereum movement

I prefer you to do not rely on one thing as movement of any coin depends on large no of factors
Don't trust blindly on something, doing own research is a good habit

[Kagamipo]

nah bro. maybe it's just the same moment. just coincident . every coin have the other circle . i'm make sure

[feelivent]

nah bro. maybe it's just the same moment. just coincident . every coin have the other circle . i'm make sure

Yeah it is true and I think the reason is that cryptocurrency market depends mostly on the ups and down of bitcoin, that’s why Altcoin prices are also increases and decreases with the price of bitcoin. It is the leading crypto in the market and mostly people put their money in bitcoin only because it is more authentic and reliable than Altcoin.

[Wexnident]

usually the altcoin price will rise when the price of bitcoin rises and the price of the altcoin will drop when the price of bitcoin falls. to take advantage of price differences in the market to seek profit so that the price of the altcoin will rise and of course the price of bitcoin and altcoin is movement always giving the same price movement

I guess it is the common mistake or misconception about the altcoin's price. Altcoin is for alternative to bitcoin since bitcoin has the highest value among all of the cryptocurrency but it does not necessary affected by the bitcoin's price just so happen that investor and trader always panic sell whenever bitcoin's price goes down.

[Farma]

usually the altcoin price will rise when the price of bitcoin rises and the price of the altcoin will drop when the price of bitcoin falls. to take advantage of price differences in the market to seek profit so that the price of the altcoin will rise and of course the price of bitcoin and altcoin is movement always giving the same price movement

I guess it is the common mistake or misconception about the altcoin's price. Altcoin is for alternative to bitcoin since bitcoin has the highest value among all of the cryptocurrency but it does not necessary affected by the bitcoin's price just so happen that investor and trader always panic sell whenever bitcoin's price goes down.

compared to bitcoin, I think most altcoin prices are based on ETH prices. Well, I think this is a common thing. I am so sure, the increase in ETH prices will make many altcoin prices higher, but I think eth prices are affected by the price of bitcoin,

[MRY]

in my opinion, bitcoin has a big influence on altcoins but not all altcoins, so if the price of bitcoin rises or falls then the price of altcoin will also rise or fall, but there is also the price of altcoin will increase when the price of bitcoin falls, so I think it depends on the development the coin itself to go up or down

[filtyfrank251]

Currently, no altcoin prices are not much dependent on the price of BTC, the current price of BTC growth, but some altcoin prices are down, so I depend on the altcoin price that is the product that the project. that development.

[otundebis]

Bitcoin is base currency exchange for almost all of Altcoin in cryptocurrency market.  The higher bitcoin price has a way of bring up the rest of the coin in cryptocurrency market.  I do not see Altcoin price based on bitcoin price because each coin derive it's value base on different factors!

[Marcsymon]

Some crypto experts said that altcoins price is very depending on bitcoin price based on their experienced, and we can really considered that it is true because at this bearish moment bitcoin price deeply goes down together with some of the altcoins in the marketplace. With this it is on the bitcoin price that actually crypto market moves, it's either going high or down low.

[Rembedful]

nah bro. maybe it's just the same moment. just coincident . every coin have the other circle . i'm make sure

Yeah it is true and I think the reason is that cryptocurrency market depends mostly on the ups and down of bitcoin, that’s why Altcoin prices are also increases and decreases with the price of bitcoin. It is the leading crypto in the market and mostly people put their money in bitcoin only because it is more authentic and reliable than Altcoin.

I can say nothing about this because if we see the investment trend, people choose their favorite coin and there is no relationship between bitcoin and altcoin investments, but it is also a fact that when the price of bitcoin increases Altcoin prices will also increases and when bitcoin drops, Altcoin will also drop. It is because overall both are cryptocurrencies.

[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

That happens every time and I don’t even know why. I think that’s the work of investors, maybe they tend it withdraw their money whenever they see that Bitcoin is already falling.

It’s just like buying lots of different goods and saving them till your target time and once that time comes instead of selling a particular type, you decide to sell of the products and withdraw every money you have invested in that product. So investors make plans, and once they hit that target they withdraw.

[sirminesalot]

of course altcoin prices are based on bitcoin, because we know that if bitcoin goes down, altcoins will go down and vice versa. bitcoin is the benchmark of all coins so all altcoins will be based on bitcoin.