Is it bad for altcoin that BTC is dropping

[imboss]

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.

People want Bitcoin's yet if they really wanted to purchase Bitcoins then they can do that within an exchanger.

[cryptocyprus]

All altcoins and the entire cryptocurrency market depends on bitcoin, as It is a leader in capitalization. If Bitcoin falls and altcoins will fall after it, if Bitcoin grows, then the altcoins will grow.

[anisoptera]

It is very bad for altcoins if bitcoin is dropping because altcoins still following bitcoin move and I have noticed something, if bitcoin drops - altcoins drops even further comparing tot bitcoin.

[rricksu]

of course, if the bitcoin price falls, the other coin will come down, including eth and other alt coin. bitcoin prices greatly affect the altcoin

When we think of these cryptocurrencies, there is a directly proportional relationship that is present, when the bitcoin price starts dropping, altcoin price might drop as well. What question we still have in mind is that, what factor affects the increase and decrease of these cryptocurrency price value?

[maxman190]

As statistics show, if bitcoin loses its price then altcoins also fall, it turns out that the price of bitcoin is a factor influencing the price of altcoin.

[tarlok01]

Yes, from last passing days I am hearing that some investors are selling their coins that's why the price of coins are falling down because they both are interrelated some how altcoin will be effected but soon it will be fine.

[nizamcc]

Yes, certainly. Bitcoin drains the capitalization of all altcoins, which is why we see this red market, which kills us day after day.

[prtty2gal2]

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

It depends on the condition of the market, but in most cases and larger percentage of the time, the altcoin market reacts a lot to btc movement unless we start lying to ourselves. The same set of people instigating FOMO in bitcoin are the ones doing so in altcoins and for what it is worth, it is normal to see the same scenario of a pump and dump playing out in altcoins and since bitcoin is more like a base with a lot of support and what a lot of investors believe is the future of payment, they will only be using the altcoins to increase the amount of bitcoins they have in the long run until maybe we start seeing real life usage for altcoins themselves and they can stand on their own based on sustainable demand and not just some speculative move.

[jofox]

Me I hold now for the big grow of bitcoin because in my speculation the circulating of bitcoin will go down it means the next move is grow price.

[ruli stylon]

Not all altcoin prices go down when the price of Bitcoin falls. Just look at this one altcoin (dogecoin) the previous price of 40 satoshi but now it rises to 85 satoshi. Altcoin dropped not a factor in the decline in Bitcoin prices but there were other factors.

[hidingyou]

Me I hold now for the big grow of bitcoin because in my speculation the circulating of bitcoin will go down it means the next move is grow price.

Most of altcoin depended on bitcoin market so I think it's bad to see BTC encounteed hype which it can affect also other currencies ,But as far as it's not dying there will be opportunity to repeat as possible.

[atamism]

Yes. In my opinion, Bitcoin always has an effect on the  altcoin price because most of the time we use Bitcoin when we need to convert our alternate coin to fiat. If it's dropping, it can be bad for alternate coin but it will give an opportunity to other investors to buy at a cheap price.

[canduterium]

I think its bad if the project behind the coin or token is bad. Good alt coins worth a lot more than their contrapartida in bitcoins.

Imagine for example DASH. They populated the PoS system for mining and masternodes. Their project is good enough to have a life for their own. The bitcoin price is obviously a factor but there are other factors.

[cramcram21]

I think it is bad specially if you are just looking at it's Fiat price,
But if you look at it at it's crypto price for example it's Bitcoin price or ETH price sometimes it would go up even if the Bitcoin price drops down,
We wouldn't see it if we are looking at it's Fiat price but for me I don't really think that alt-coin price depends on Bitcoin.

[lorylore]

Normally it is not bad for Altcoins if BTC drop. BTC drop mean people are try to invest in altcoins but nowadays most of the investor are afraid of the market thus they will stop buying altcoins although the BTC is dropping.

[pharaon]

Last year there was indeed such a tendency that if bitcoin falls, the price of altcoins grows, now the market situation has changed and the price of all altcoins depends on the price of bitcoin.

[syberwolfen]

Normally it is not bad for Altcoins if BTC drop. BTC drop mean people are try to invest in altcoins but nowadays most of the investor are afraid of the market thus they will stop buying altcoins although the BTC is dropping.

Yes you are right because people's thought is if BTC rises then altcoins too will rock if BTC drops then altcoin too will drop the value. As most of the people's have scared after the market is very bad now. People have different intentions, but look at ripple effect last month. People need to trust on this everyone has a turn wait for it.

[anatolij.shishkin]

Reducing the price of bitcoin has a negative impact on the entire market. So there is nothing to say. Bitcoin is reduced by 1%. Altcoins fly by 10%. A very small number of currencies can show a positive result in this case.

[straightliteral]

BTC dropping is not so good to the other altcoins because their price are highly depend on the value of BTC

[shinratensei_]

Reducing the price of bitcoin has a negative impact on the entire market. So there is nothing to say. Bitcoin is reduced by 1%. Altcoins fly by 10%. A very small number of currencies can show a positive result in this case.

Bitcoin has a lot of domination when the price down and others will be following it as an impact. These altcoins holders are feeling panic when they are seeing the price of Bitcoin decreasing a lot. They are converting their altcoin to the bitcoin instantly and they are taking a short-term consideration with a speculation if they can buy it again at the bottom price.