Why do altcoins follow bitcoin?

[allohha]

Of course, they will follow bitcoin because, due to bitcoin crypto started that is why they want to follow the footsteps of bitcoin too, everybody nowadays love bitcoin so the demand is increasing that is why altcoins are doing everything for them to be like bitcoin.

In any case, other altcoyins do not have the same popularity that Bitcoin has. In addition, Bitcoin is a Pioneer among the crypto currency and therefore it has important capabilities for a huge price.

[Kamarah]

Because it is the number one cryptocurrency here. Don't you see that many countries are following the USA? They have to follow their leader. However, in the future, I believe that most of the coins will become independent. They will no longer rely on bitcoin.

[bocyaj]

Bitcoin is King of Crypto currency,the people will follow the king.Many altcion is created with the base of bitcoin.So altcoin is depend on the bitcoin in many manner.Bitcoin is the father of altcoin.We know son is like is father.This is the reason for when bitcoin price increase,it is reflect on altcoin.

[bozo333]

The actual reason is investors are follow the Altcoins and Bitcoin so marketcap is similarly move to the same way. But peoples are expecting Bitcoin is controlled by altcoin. First we should think how Crypto market is pump and dump the main reason is supply and demand if you investing continuously automatically this will growing faster at the same time if you sell continuously it will down in the market. So investors are major in Crypto platform.

[kynaz]

Because it is the number one cryptocurrency here. Don't you see that many countries are following the USA? They have to follow their leader. However, in the future, I believe that most of the coins will become independent. They will no longer rely on bitcoin.

I just hope someday all the coins can be independent because Bitcoin is increasingly showing dominance throughout the market and the downward trend is still going on in recent months. I personally invested in many good projects but when looking at Bitcoin prices fell my investment also fell

[Chacon994]

I can not explain why altcoin is dependent on the price of bitcoin. In 2017, when bitcoin prices increase, the price of altcoin will decrease, and when the bitcoin price drops, the altcoin price will increase.

[Tytanowy Janusz]

This depends on the coin. Ethereum, for example, is not very related as its blockchain structure and network serves different functionalities than Bitcoin. Take Litecoin, a smaller and more efficient bitcoin made to solve bitcoin’s problems. Where bitcoin can be used, litecoin, in theory, can be used better therefore they are much more closely tied.

Ether is not that related to bitcoin becouse it has bigger USD market. https://coinmarketcap.com/currencies/ethereum/#markets

As you can see its more like 50:50 or 40:60 instead of 90:10 to 99:1 in other alts (alt/BTC : ALT/fiat) . Thats why its price is more independent than other alts but still fallows bitcoin.

[Stargazer]

All cryptocurrencies rely on the Bitcoin; Bitcoin indicates the crypto market. Bitcoin has Almost half or more than half volume of the total crypto market cap; Bitcoin is the headquarters of the crypto. Without bitcoin, Crypto market will drop like zero, without it's we can't imagine a crypto market like at this moment. I think All coin made by following bitcoin technology; Though we called them Altcoin, they also help bitcoin to be worth over the world. If bitcoin pumps then other every coin will pump too, and if bitcoin goes down then all currencies will follow bitcoin! It's simple math.

[htconem7]

Why is it that the moment BTC starts to sway, the other coins follow suit. It would be hard for everyone to sell that much at the same time. It seems beyond just panic selling. They seemed to be directly linked. Inf-fact, BTC going down should increase and encourage altoins as they raise in value compared to BTC as it falls so why this uniform sell off? Something seems weird about that to me. Any real theories, or explanations?

You can see that the market has been fluctuating continuously over the years and it is difficult to predict, so it is very difficult to trade successfully. Bitocin prices in recent days are constantly adjusting, only a bit of bitcoin mitigation can cause the market to turn around and make the price of the alcohols fell sharply.

[richardsNY]

I am strongly of believe that at some point the correlation between Bitcoin and altcoins will no longer become a thing. It all comes down to how dumb and get rich quick minded people have no idea what they are doing here, and what they are investing in. The more professional this market becomes, the lower the correlation between crypto currencies is. Technically speaking, it makes no sense that one coin that is fundamentally different from Bitcoin, exactly follows its patterns. In the aforementioned scenario, it will translate into a situation where the far majority of the altcoins will lose a tremendous amount of value. Bitcoin's higher price is the only reason copy & paste coins are where they are right now....

[darkangel11]

The main reason for this is the greatest fear that people have. They are mainly afraid of the governments or "people in power" which include the bank owners and such, will decide to destroy cryptocurrencies and fight for them to become banned. If that happens they will not focus individually on every coin, but mainly on the most well known one and work on drafting the bills for all the rest once BTC has been dealt with.

[Xardasim]

Firstly, Bitcoin is first and self-proved crypto currency, and its decline in price causes the other altcoin holders to panic.
Secondly, Most altcoin based on Bitcoin, so when you want to buy a altcoin you must first get a Bitcoin, then you can get the altcoin with it and when the price of Bitcoin goes down it probably have to effect on the altcoin.

[nanasei]

Traders take clue from bitcoin behavior and react when bitcoins give a hint of direction of where it is going. Almost all altcoins in the market is paired with btc and hence the behavior of bitcoin influences other coins too.

[marsmyname]

Bitcoin is King of Crypto currency,the people will follow the king.Many altcion is created with the base of bitcoin.So altcoin is depend on the bitcoin in many manner.Bitcoin is the father of altcoin.We know son is like is father.This is the reason for when bitcoin price increase,it is reflect on altcoin.

Yes of course bitcoin is the first crypto currency which makes it unique and reliable than all other coins people feels safe while investing in bitcoin as bitcoin has good history of trading and investing, right now bitcoin is high in demand as more people are liking to invest in it for high profit all other coins rises to some extent but bitcoin is the only currency which rises so high unconditionally so that’s bitcoin all other coins are born from bitcoin

[mung_nasib]

Indeed the majority of altcoin can not be separated from bitcoin because the king of the world of cryptocurrency is bitcoin so traders must be able to observe its exchange rate movements to anticipate the occurrence of large losses later.When relying on altcoin in investing.

[evilsign]

I guess it just psychology of the trader. They are like whales that mover of the price. I will simply be thinking like this: If bitcoin price is down, I'm afraid the other cryptocurrency(altcoin) will be down too because they want to save their asset to fiat. But it just short time. The same condition happens when bitcoin price going up, I will thinking to buy altcoins as much as possible and hope I will sell them to bitcoin to make a double profit when I sell them again in fiat.

[Kez1817]

   It is simply because bitcoin is the king of all cryptocurrency and it is use as a medium of exchange in digital currency. You can't buy altcoins if you do not use bitcoin ,ethereum or dollar. Bitcoin is the primary coins with higher value in crypto and play the important rule as digital currency that's why if bitcoin price down altcoin also down.

[denisaardelean]

Why is it that the moment BTC starts to sway, the other coins follow suit. It would be hard for everyone to sell that much at the same time. It seems beyond just panic selling. They seemed to be directly linked. Inf-fact, BTC going down should increase and encourage altoins as they raise in value compared to BTC as it falls so why this uniform sell off? Something seems weird about that to me. Any real theories, or explanations?

You can see that the market has been fluctuating continuously over the years and it is unpredictable, the price of bitcoin and altcoin is constantly decreasing, only a small bitcoin adjustment can cause the price of altcoin drops very strongly. So when we trade altcoin it is always necessary to keep track of bitcoin prices so that we can handle every possible situation.

[etron]

It is logical that the rise and fall of bitcoin prices are caused by demand, and in my opinion it may be great this is a game of whales who want to profit themselves.

[jerowacik]

Bitcoin has established real life applicability. Altcoins have not. In addition Bitcoin market cap is a half volume of the total crypto market cap.