Bitcoin should NOT determine the market

[Bonsaiav]

Yes, but unfortunately the situation on the marker says differently, bitcoin influenced is so high in the cryptocurrency market so domination of bitcoin still exist. I don't when this situation will be changed.

Probably will take a long time dude. As we all can see, the market is so dominated by btc that it very seldom moves against it or by it's own. Crypto is still widely seen by those outside the community as bitcoin.

Not only that, bitcoin's not infrequently used by investors, as a basis for the growth indicator of all crypto currencies, even some, who call it a shield of cryptocurrency defense, so it's not surprising if in the end bitcoin is considered as a market determinant. In that case which determines the market price actually, only supply and demand.

[Olayinka225]

Yes bitcoin should determines the market

Why because there are lot's of valueless  and no goal or some coins that might have lost there goals and still trading in the market. It's dangerous if we left the market on to them again and that's why we need the intervention of bitcoin

[Emilyp]

I'm of the same opinion too. I hate seeing the rest of the cryptocurrency market take a swing each time bitcoin fall or rises. I believe with the introduction of more stable coins and pairing with most of the cryptocurrencies the altcoins will start showing a little resistance to bitcoin's movement.

[yulionoo]

yes, I agree with you that bitcoin does not fully determine the ups and downs of prices of the entire market. but in my opinion, the rise and fall of bitcoin affects some altcoins but not all of them. maybe because bitcoin is the king of cryptocurrency, then there are several other coins that follow. I believe in the future there will definitely be a better, trusted system that will determine the entire market. and that's just my own thinking.

[Karie_Legend]

I'm of the same opinion too. I hate seeing the rest of the cryptocurrency market take a swing each time bitcoin fall or rises. I believe with the introduction of more stable coins and pairing with most of the cryptocurrencies the altcoins will start showing a little resistance to bitcoin's movement.

This is a new step to see prices rise again from a few months ago but this is not the price that everyone expects for now.

[Burogh]

I really really love crypto but I think it is not a good thing that the price of BTC determines what the entire market does. I feel like there should be something done that makes the crypto market more decentralized where the price of BTC doesn't swing the market up and down there should be some sort of better system put in place otherwise we are just creating a system that is just the same as the current fiat system we have where the most "trusted/valuable" asset determines the entire market.

Just some thoughts, what do yall think??

Cryptocurrency market just 9 years old and bitcoin as pioneer in cryptomarket. Bitcoin become main crypto in market because the value and liquidity is biggest in market. It is true that bitcoin dominant should be not more than 50% because it make altcoin can not grow

[mikhailkudig]

I fully agree with this statement. Of course, there should be relative freedom in the cryptocurrency market, they can not all depend on one.

[Bytem3]

As long as most coins are trading only with Bitcoin that’s gonna be the case. You can see how Binance coin does not follow Bitcoin since it has plenty other pairs.

I think stablecoins such as DAI can solve this issue.

[princeyeboah]

Bitcoin is the number one on the market with large number of investors (largest market cap). This has made Bitcoin to have a lot of influence on the entire market. Most coins are also paired to Bitcoin on the exchanges, hence an increase or decrease in Bitcoin price affect the coins paired to it.

[vonnyaries]

its all because bitcoin is the king, and many coin or other altcoin need bitcoin to convert it into real money, because the cryptocurrency dominant in bitcoin, every exchanger usually receive bitcoin payment than other payment right? so other people that have other coin like Zcash, NEO need to change it into bitcoin before withdraw the real money

[molla_corda]

I totally agree. Any monopoly in any sphere implies a weakening of the market or structure. In the absence of competition, institutions quickly atrophy and cease to develop, resulting in stagnation. In the crypto-currency environment, this can lead to a slowdown in the development of technologies and it progress.

[Bitfling]

I really really love crypto but I think it is not a good thing that the price of BTC determines what the entire market does. I feel like there should be something done that makes the crypto market more decentralized where the price of BTC doesn't swing the market up and down there should be some sort of better system put in place otherwise we are just creating a system that is just the same as the current fiat system we have where the most "trusted/valuable" asset determines the entire market.

Just some thoughts, what do yall think??

Its good that we should put bitcoin in better place but most people involve in crypto always want make a speculation and make profits from it. Bitcoin is new monetary system model and i am believe people involve in cryptocurrency will make it better

[Ekimzjames20]

I really really love crypto but I think it is not a good thing that the price of BTC determines what the entire market does. I feel like there should be something done that makes the crypto market more decentralized where the price of BTC doesn't swing the market up and down there should be some sort of better system put in place otherwise we are just creating a system that is just the same as the current fiat system we have where the most "trusted/valuable" asset determines the entire market.

Just some thoughts, what do yall think??

Yes, I also think that the current situation with cryptocurrency prices is too abnormal due to the dominance of Bitcoin in price over other types of cryptocurrency. This is especially evident this year, because after the fall of Bitcoin in December last year, the entire cryptocurrency fell in price and the market almost froze for a whole year. Such a situation is very difficult to call the market at all, since cryptocurrency actually has no price. At the same time, I do not think that this will continue for a very long time. The market will find a way out of this situation.

Yes..Because the bitcoin is a kinds of coins and it depend the value on currency either it is high and low price. The market as well depend the government.

[wall101]

I really really love crypto but I think it is not a good thing that the price of BTC determines what the entire market does. I feel like there should be something done that makes the crypto market more decentralized where the price of BTC doesn't swing the market up and down there should be some sort of better system put in place otherwise we are just creating a system that is just the same as the current fiat system we have where the most "trusted/valuable" asset determines the entire market.

Just some thoughts, what do yall think??

Yes, I also think that the current situation with cryptocurrency prices is too abnormal due to the dominance of Bitcoin in price over other types of cryptocurrency. This is especially evident this year, because after the fall of Bitcoin in December last year, the entire cryptocurrency fell in price and the market almost froze for a whole year. Such a situation is very difficult to call the market at all, since cryptocurrency actually has no price. At the same time, I do not think that this will continue for a very long time. The market will find a way out of this situation.

Yes..Because the bitcoin is a kinds of coins and it depend the value on currency either it is high and low price. The market as well depend the government.

Every coins is like an Ico projects that every coins have a own way to release and every project is also different compare it to other coins and also for their names.

[thankyoulord]

Saying that bitcoin should not determine the market price and coin circulation is like asking nature not to determine how natural occurrences of the day should be. Bitcoin is like a brand name, it's is like a category name even. Once you hear blockchain and cryptocurrency, you think bitcoin. So whatever it is happening with bitcoin will surely affect other coins too. Take for instance, if the bitcoin drops this minute, other feeble heart holders of the bitcoin will tend to sell of their coins in fear of loosing it to nothing. This will affect other coins on the exchange system. people might say, since the almighty bitcoin is loosing its value today, other coins might phase out soon so in that case let me self off these coins before the market depression hits me.

[cizatext]

The cryptocurrency market is a decentralized market and bitcoin does not entirely control the cryptocurrency market but bitcoin can influence the market on a high note, bitcoin most time take the lead whenever it comes to price movement and since bitcoin is the mother coin all other cryptocurrencies depend on it for price moves.

[aris av]

Bitcoin is the first and most popular cryptocurrency, bitcoin also has the biggest influence and has gained investor confidence, and therefore bitcoin has a major influence on the crypto market.

[mdzahed134]

Bitcoin is the best crypto currency in the world. They are in the top position of the market. Almost every coins are follows their strategy. That’s why some grope of peoples are saying that bitcoin determine the market. But i can’t agree with them.

Bitcoin is the first growing digital currency in the world. I started my online carrier with BTC when it's rapidly spreading. Bitcoin dominating over the whole crypto platform i think. And that's why BTC determine the market value i thought that in my sense. I don't know why you going to disagree.    

[voanquan]

Bitcoin is the best crypto currency in the world. They are in the top position of the market. Almost every coins are follows their strategy. That’s why some grope of peoples are saying that bitcoin determine the market. But i can’t agree with them.

Bitcoin is the first growing digital currency in the world. I started my online carrier with BTC when it's rapidly spreading. Bitcoin dominating over the whole crypto platform i think. And that's why BTC determine the market value i thought that in my sense. I don't know why you going to disagree.    

I agree with you, Bitcoin is too familiar and has a certain position in the heart of everyone. With the number of investment capital in the top one of the market, there is no reason Bitcoin can not determine the market.

[maianh09]

Have you ever seen a weak king make a small country into a high power? So when the Bitcoin dump causes all of the ALtcoins to be affected, but it goes up quickly enough to take its entire population up fast. Do not worry when things get worse just because it's terrible.