Is it bad for altcoin that BTC is dropping

[chikucrypto]

Bitcoin is the king of all altcoins and we know it very well. The whole market trend is being set by the price of bitcoin so if bitcoin is down then of course all alt coins will be down and if bitcoin up then other coins will be also up.

[infinity33]

This is of course connected, the price of altcoin depends entirely on the value of bitcoin, respectively, if we see that bitcoin is reduced, then wait and drop the value of altcoins

If Bitcoin is dropping in value go and wait somewhere then look at the price again. The price could recover this month.

I hope what you are saying is really true. nobody knows when will bitcoin price will rise up, and we even don't know if it will really rise up this month, because as I observed in the fast few months investors here are also saying that the market price will rise up in the coming months but up to now it still remains in the dumped situation.

[popolite11]

Bitcoin price is constantly dropping for the last several days. What effects are putting it on Altcoins ? Is it bad or good ?

Bitcoin's position shows like cryptocurrencies feel itself at all. I mean that all cryptocurrencies are very connected with each others and they follow dropping Bitcoin all the time.

[kanmo]

Bitcoin is the mother of all cryptocurrency and I believe once bitcoin sneezes, the whole cryptocurrencies in the market will catch the cold. Bitcoin price largely affect the price of other coins because its the number 1 cryptocurrency.

[zedaq]

Of course, this is very bad, because BTC is the leading project among all projects in the crypto-currency area, so investing in BTC is a key stage, now very serious issues are being addressed and we are at a very important stage of the industry development.

[airdrophunter]

Basically, since bitcoin is considered the base crypto of cryptoworld, that means altcoin's price is tethered directly to major cryptos like Ethereum, and Bitcoin that is why it is very obvious that altcoin's value decreases when bitcoin's value also decreases.

[sherwinsamsung]

if bitcoin price is dropping, we have to analyze if people are selling bitcoin to cash like usdt, or if people are exchanging bitcoin for altcoins.

if people are selling bitcoins to cash, that means people are losing faith in cryptocurrency and taking out profits, or minimizing loses.  and that is not good for crypto.

on the other hand, if people are exchanging bitcoins to altcoins, that is good, since people are starting to see the advantages of other blockchains compared to bitcoin.  and they want to use those new and better blockchain technologies.

[mika1977]

Bitcoin is a benchmark for the entire market. If it falls, all coins will fall. Until will so:)

[fathur01]

The entire cryptocurrency market is essentially dependent on Bitcoin. If the price of Bitcoin falls down, then all altcoins fall, as Bitcoin is the leader in capitalization.

[beckspace]

Actually, all of the altcoins in the cryptocurrencymarket are completely dependent on Bitcoin. If the price of Bitcoin drops, the price of all altcoins is drop, nevertheless when the price of Bitcoin rises, we cannot see the same interaction at the same rate.

[Fortified]

This is of course connected, the price of altcoin depends entirely on the value of bitcoin, respectively, if we see that bitcoin is reduced, then wait and drop the value of altcoins

If Bitcoin is dropping in value go and wait somewhere then look at the price again. The price could recover this month.

I hope what you are saying is really true. nobody knows when will bitcoin price will rise up, and we even don't know if it will really rise up this month, because as I observed in the fast few months investors here are also saying that the market price will rise up in the coming months but up to now it still remains in the dumped situation.

But this is much better than the last two months which the price was down to almost $4000 , and we are now in the last quarter with the price of $6500 for BTC , so we will hope for this year to recover and it seems we are in the way for a green market as it is seen the price of Bitcoin and altcoin for today .

[NewBet]

It is bad for all of the market that the price of bitcoin is falling. They all get their value from bitcoin and since bitcoin is down that means the price of all of the other coins are down too. The prices are all connected to the price of bitcoin. That is why if we want the altcoins we are supporting to do well then we have to make sure that we are supporting bitcoin to do well too.

[TontomHit]

Bitcoin has a very determinative role in the cryptocurrency market. It can actualy move the whole market, Altcoin prices depend a lot on Bitcoin's.

[owlman]

There are exceptions and the price of some altcoins can increase or decrease regardless of the bitcoin price, but in general bitcoin is an indicator on the cryptocurrency market, and the growth of all coins depends on the growth of the bitcoin price.

[adarwis]

don't think that all altcoins will experience a price decline when BTC prices experience a decline, many altcoins don't experience a decline when BTC prices decline, the decline in BTC prices only affects the altcoin with small communities, so don't panic with all that

[Don Lord]

This is of course connected, the price of altcoin depends entirely on the value of bitcoin, respectively, if we see that bitcoin is reduced, then wait and drop the value of altcoins

[CryptoVal13]

All depends if BTC has influence on coin or not. For example, I am LCS holder and the price is related to USD so no matter how BTC will grow, it still showed stable price while ETH and BTC had a fall. For sure mostly if BTC goes up-alts go up too and etc.

[coino.org]

Altcoins are dependent on bitcoin price. It seems for me that altcoins are more volatile compared to bitcoin and most of them will be dropped even more in case BTC will show worse dynamics

[clarise123]

We can not avoid being careful not to lose money and always keep in touch with the market to know when to invest in the market. also know the trading strategy for more money to be received and for not being victimized by the scam.

[yatogami]

Bitcoin price is constantly dropping for the last several days. What effects are putting it on Altcoins ? Is it bad or good ?

As we can see, almost all alts (including Eth) are dependent on bitcoin. If we take graphic charts representing the rise and fall of various coins historically they are almost identical. This probably happens due to the fact that most alts are just an instrument to get some btc in the traders' wallets.