Why do altcoins follow bitcoin?

[alfs75]

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?

definetly many people or bitcoiners observe this following situation that why should altcoins follow into bitcoin if theres things happen  occur's  like if bitcoin dump all altcoins also turns to down ,and if the bitcoin will grow its price value into the market all altcoins value will be carried away,therefore i conclude in my mind that bitcoin is the mainstream of all resources in cryptocurrency,so therefore anything happen in bitcoin,its would affect the whole scenario of crypto world.

[Diablomania]

Because they are just following the same pattern on the price, also, there are a lot of emotions on the market and that is the reason of why the price is always moving with bitcoin

[MaidaKalani]

Altcoin follows Bitcoin because of supply, demand and speculation. It should be understood that the inter coin has a relationship with one another not to mention the currency market. As a trader just follow & exit before the price reverses direction. Indeed if at a glance confusingly where prices suddenly rise or fall, but there is a chance to make a profit. Try searching again about what causes the down / up is anything. Then use that knowledge to trade (fundamentally). thanks.

[udonmez]

because altcoin prices depend on bitcoin. Most of the people don't care about price in fiat. So when bitcoin decrease all coin price follow it.

[Xising]

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?

I think it's from the idea that Bitcoin, being the highest value amongst all the coins, also serves as the main value controller for other coins. The cryptocurrency market itself also follows the track Bitcoin goes. When Bitcoin is down, most of the market asset and the market itself show a "red" margin, with the exception of some few coins ,but when Bitcoin is going up, the market is also in "green".

[senne]

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?

Bitcoin going down will never encourage altcoins to rise, as when Bitcoin starts to fall there is panic to gain more before Bitcoin falls more. When Bitcoin is falling people sell their coin and invest in Bitcoin and then withdraw the money which affects both Bitcoin and altcoin. Their main purpose is to buy more Bitcoin at a lower price and then when market starts to get stabilizing they will invest in altcoins again. For instance, today Bitcoin is down by 12% and nearly every coin followed the same trend and creating a RED market.

[syahril husen]

Bitcoin is the oldest crypto currency, and also it is the most successful one with the highest potential and value, in addition, the Bitcoin's market is the biggest among crypto markets. So it is normal that altcoins follow Bitcoin and get influenced by its market and price.

[bitterguy28]

Obviously today another dumping for bitcoin price in the market place but I still believe nobody altcoins can race on the top for bitcoin value, in my own analyisis and opinion if the price of bitcoin fall dump the altcoins is also follow into the red signal in the coin market place, because one of the main reason altcoins follow the bitcoin value it because the investor's is depending the value of bitcoin before investing in the altcoins.

[TheGreatPython]

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.

Altcoin have a little affect with other currencies in the market and especially the Bitcoin because both are cryptocurrencies and the market minds are almost equal and that is why when the Bitcoin market goes down then the Altcoin market also follow the decrease trend and if the Bitcoin price goes up then the market price of Altcoin also follow increase trend.

[UserU]

So if more fiat pairs are added, BTC dominance would dwindle?

[atrocityx]

So if more fiat pairs are added, BTC dominance would dwindle?

No... because BTC also has a matching fiat pair and any arbitrage opportunity would be snatched up and flipped by arbitration bots.. Bots scan multiple exchanges/pairs/whatever and any opportunity to make even 1% cash will be eaten up, flipped to btc/usd and back to btc/alt.

[alibaba93]

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?

The market in recent days is constantly falling sharply, you can see that bitcoin prices are constantly falling sharply and will likely reach the $ 6000 mark in the coming days. You can see that bitcoin costs a great deal on altcoin, just a small bitcoin variation that also causes the altcoin to drop sharply. So when you trade altcoin you always have to look at bitcoin to minimize the risk.

[capoeira]

because most, if not all, of them have most of it's volume traded against BTC, which means:
when BTC falls, in oder to maintain it's value altcoin-X/BTC has to go up. When you don't have a rally going on on that altcoin this wont happen, since there is no (new) demand. So altcoin-x starts to lose value without even any selling going on, which than triggers actual selling of the coin.

when BTC rises it causes optimism for the whole market

[arief89]

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?

because bitcoin is the first digital currency in the world, so every alcoin always follows bitcoin price if bitcoin price decreases then altcoin also goes down and vice versa if bitcoin rises then altcoin also goes up ...

[arthotdog]

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?

Just like why you followed your father?bitcoin is the firet crypto and blockchain is the technology behind it,before you can convert altcoins to fiats you need to go thru blockchain first so this is why all altcoins bend knees to bitcoin and this same reason why they follow this huge coin

[manismanja]

yes of course altcoin always keep up with bitcoin prices because I see bitcoin prices have a very clear effect for altcoin, when bitcoin price goes up altcoin will also experience price increase.

[aardvark15]

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?

Bitcoin is still the leader in the cryptocurrency market and anything that affects Bitcoin also affects all altcoins. That goes for government regulations, exchange hacks, etc.

Notice that all exchanges have different coins that they support for trading and different trading pairs but they all have Bitcoin (at least all the exchanges I have seen) and they all have BTC as the main trading pair.

[keanne_isaac]

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?

In my understanding the reason why altcoins price are being affected by bitcoin price this is because bitcoin are being used to trade in altcoins so every movent bitcoin has it would directly impact to altcoins as it is used to trade altcoins.

[redsun114]

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 think Bitcoin being the market king and trend setter has great influence over the rest of the crypto market and this influence is actually due to the fact that Bitcoin has the ability to move a market in a given direction because it has been used by so many people that it has a great portion of the crypto market. By this I mean to say that Bitcoin acts like a monopoly ion the crypto market and has the ability to change the trends of other currencies.

[alminium]

Bitcoin is the oldest Cryptocurrancy currency, and it is also the most successful currency with the highest potential and value, in addition, the Bitcoin market is the largest among the Cryptocurrancy market. So it is only natural that Altcoin follows Bitcoin and is influenced by the market and its price. All cryptocurrancy now move up and down at the same time. Just as prices are controlled by one group.