Is it bad for altcoin that BTC is dropping

[Cutieh01]

As per observation, everytime there is a bear market, altcoins always had been affected once btc had a downward trend meaning a drop in price. I came to
notice this trend in the past 5 months of my presence here in this forum and I believe that btc is somewhat like the baseline in every drop in price because alts and btc are correlated with the other. But what is happening in the current market, this is just temporary and not permanent since btc will continue to rise in the coming months.

Definitely it's true, since Bitcoin is the king of all crypto when the price of btc decreases it seems that all cryptocurrencies affected specially altcoin which is the second rank in crypto. Maybe because they think that all cryptocurrency will go down and vanish. But I'm sure that cryptocurrency will never be vanish.

[sham100899]

It is indeed bad for altcoin that BTC is dropping, because when btc market drops, altcoin market will also drop. It seems that is like a chain reaction, I can conclude that it is bad for altcoin when BTC drops.

[chenjkai]

I think it will return soon. Probably in some days or weeks it will even reach 8500$, the value is so low not for it, even though was stabilized.

[sinhlyshpt]

I think that Bitcoin price is drop due to the impact of many people selling Bitcoin and some of them moved to altcoins. That leaded to ETH as well as when the coins rise. When supply more higher than demand the price always fall and we should see it as reality, nothing too worry about it as long we already set stop loss and follow my strategy.

[katrimans]

Yes, there is some correlation, because the system is closely interrelated, and the coin prices are regulated inorganically. Only coins with organic movement differ.

We all know that bitcoin and altcoins are entirely different crypto coins and that they don’t share anything in common but even then, the change in the market value of the bitcoin effects the market value of rest all the crypto coins including altcoins. It is because bitcoin is the only coin which has this much of the value and that most of the investors make a conclusion by looking at the market value of bitcoin.

[Pritt]

Yes, and it will be so till common mind will understnd that BTC and alts have different purposes and BTC has for a long time not been the best. We need a couple more years

[hihitao43]

Most of the traders will save their USD when bitcoin starts to fail whcih is why if they hold btc, they will buy USDT to maintain the value of their token and then buy back at the cheaper price, this will mean that they profit already by doing it. This doesn't just happen to BTC but to most altcoins. If you hold a coin partnered with USD all the better.

[ezbreezy08]

It is bad for the whole crypto that's we wanted bitcoin to have price increase. at this moment price is still low and there's no sign that bitcoin will go up all we want is too increase the overall marketcap so bull run begins.

[khalis]

Yes, the effect is very great on altcoin prices if bitcoin prices go down, because bitcoin strongly dominates all cryptocurency prices.

[setancredit3]

If I think all the altcoins that exist today are dependent on Bitcoin, because lita can see clearly when Bitcoin fell then altcoin also fell, but if Bitcoin grows then altcoin will also go up again, here we conclude that the alcoin trade is very effect with bitcoin.

[raahi]

You can consider altcoin and bitcoin to be contenders if people invest I altcoin its value will increase meaning people do not deere generally applied solutions so if the bit value is dropping that is actually good for the altcoin

[Sanmark]

Most of the coins fall 10x from ath from december, like waves, 5x eth, zec and basically better ones, bad coins fell through floor, and eos is falling with the price but rising on marketcap so i guess it is best performer.

[palweduk]

truly it is truly surely not useful at the altcoin advertise cost when showcase cost for bitcoin advertise value drop. As we as a whole realize that these crypto are all altcoins for bitcoin and are being reliant on bitcoin showcase cost. The vast majority of the altcoins are ethereum stage base and as we as a whole realize that ethereum the crypto that is about direct to bitcoin which is reliant on it showcase cost. Attempt to look coinmarketcap.com and see it for yourself on the end result for a large portion of the crypto. All are dropping on the grounds that bitcoin showcase value tumbles down.

[zulfi125]

Yes, Btc dropping is bad for altcoin because every altcoin interlinked with BTC and if BTC will grow market will grow and if BTC will drop than altcoin will also drop.

[Suwycu]

Reduction of the price of bitcoins due to manipulators leads to lower prices for altcoins

[Msworld83]

Bitcoin has effect on every altcoins when ever it dip , so at time it gives more value by allowing the token to pump both in btc and dollar value and at times it give red to it value I. The two ways too , so btc dip could affect altcoins in either way .

[Sanmark]

When btc was 19k his dominance was under 40% of market cap, now when it's 6k his dominance is almost 60% of market cap. I think that is enough of the answer to this question!

[Obolo]

Very bad and very unfortunate for altcoins also. This is so because, most altcoins are reliant on bitcoin. Once bitcoin is depreciating, all other altcoins follow and this goes a long way to affect bounty hunters and investors. Im hoping for good that bitcoin recovers sooner than later so that all other altcoins will also start shooting up.

[Inikoo]

Altcoins usually drops, when the price of Bitcoin goes down. To problem lately is, that Altcoin prices keep decreasing even without Bitcoin would move. Bad to see...

[twitchtver]

Well, when bitcoin used to pump there was a moment where altcoins where staying really behind so that moment they pumped too, I imagined that the opposite happens when they bitcoin is dropping really hard.