Bitcoin vs the top 100coins/tokens. Why do they behave the same?

[boyshx]

The problem is majority exchange uses BTC/altcoin trading pair while most cryptocurrency market price list uses fiat which means altcoin price always follow Bitcoin price.
That makes most altcoin price behave the same way, while the altcoin price in BTC don't change too much.

In this case, traders and exchanges should be blamed for supporting BTC/altcoin pairing rather than fiat/altcoin.

Perfect. This really makes sense as to why these coins behave in the similar manner whenever the BTC is falling or going up. The graphs for them generated are exactly the same one and looks like exact replica of each other. This has got to do with the volume that they receive from the same base that is BTC! The BTC market control the volume that is getting traded into these market. Once people halt the operation of the bTC trade then it automatically affects the operations of other altcoin pairs associated with the BTC too. Thus everything drops the same way as BTC. My opinion is goes the same way but I do think sometimes it also depends on individual approaches.

[Early2000sThrowback]

Wondering why the top 100 coins/tokens, or even the top 200 behave exactly like bitcoin?
Is this just traders being blind and disregarding the other coins out of pure laziness?

I would like to here your opinions so i can learn about it.

Peace

I think that's more about underlying technology, rather than just a fact that new token was created. If you gonna look closely at every coin on the market, those coins solve different problems all across the industry and they have different underlying technologies and purpose. That's why those tokens are getting out on the market and become tradable assets. Moreover, they become tradable because when the company decides to run the ICO, they have to create a token which can be sold/bought, so they can maintain their inner ecosystem, so their product can function and feel well. Take for example a new project which is called Cryptics, I have invested in it recently. So, these guys have created an AI based platform which can easily make the price forecasts of different cryptocurrency assets with accuracy rate of 70%. They have created their own QRP token which will be used in their ecosystem, but in order to maintain it, they will get it listed on exchange.

[Damn3d]

Wondering why the top 100 coins/tokens, or even the top 200 behave exactly like bitcoin?
Is this just traders being blind and disregarding the other coins out of pure laziness?

I would like to here your opinions so i can learn about it.

Peace

I would put it this way, bitcoin is like the indicator of overall market mood, and if it is falling, than overall market moving is directed down, and vice versa.

[Gwapoman]

Bitcoin have 40% market shares in the total marketcap of cryptocurrencies..with a big dominance in the market like this we would always see the same movements between the price of bitcoin and altcoins.
I think if exchanges starts accepting a fiat to altcoins trading it would help reduce bitcoin dominance and remove the corelations between the price of bitcoin and altcoins.

[Early2000sThrowback]

Wondering why the top 100 coins/tokens, or even the top 200 behave exactly like bitcoin?
Is this just traders being blind and disregarding the other coins out of pure laziness?

I would like to here your opinions so i can learn about it.

Peace

The only one thing which describes this situation lies inside the economic process of cryptocurrencies. Almost all altcoins are bought using 2 main cryptocurrencies, Bitcoin or Ether, thus many assets are pegged against BTC or ETH, a when bitcoin goes down it takes all the coins down as well. Current situation on the market is just terrible because it leaves no choice for people with small amount of crypto to sell it and leave the market forever, but the best part when all the altocins are going down dramatically - you can buy them on low and make the profit once they gonna take their price positions back. That's why I recommend in the downtrend to invest your assets in different ICOs so you can make sure 5 out of 10 investments will make more than 5x,. Recently I have invested in a project which is called Cryptics , these guys have developed a platform which is backed by AI and it predicts the price of many cryptocurrency assets with high 70% accuracy rate.

[TrumpD]

Bitcoin is the Mothercoin and its demand is higher than that of others, and that is why other coins are considered "Altcoins". Whrnit comes to trading, most often than not, tokens and altcoins are traded, so that bitcoins can be purchased. Thus making the purchasing power of bitcoin strong. Thus, when BTC "dances", others do as well, becuse most people want BTC. Until it reaches a stage where BTC is no longer as demand as it is now, due to other altcoins having strong value, then the market will not always react directly/sharply to the behavior to BTC. No doubt other coins will react, but not as serious as now. So the way to do this is to support other altcoins other which are of serious potential value, and help them grow to be strong.

[princebridge7]

because most Altoins are paired with Bitcoin, so if Bitcoin goes down then Altoins goes down.

and as well as his basic Ethereum token on the Ethereum network, when Ethereum rises the Ethereum token rises, and so does the opposite.

[taiwww]

Wondering why the top 100 coins/tokens, or even the top 200 behave exactly like bitcoin?
Is this just traders being blind and disregarding the other coins out of pure laziness?

I would like to here your opinions so i can learn about it.

Peace

Thats the total market effect, when it gets hampered then all the coins in the market get hampered as well. Now the coins beyond Top 100 doesnt get affected because they dont have that much market volume, or daily volume and the net effect remains uncertain to them. When it comes to the Top 10 then everything is reversed.
However this is not the effect of bitcoin which is always thought by many traders in the crypto space. Well, this can be understood with the current situation where bitcoin alone is standing up in the bull run while altcoins are not and thus its not about the bitcoin but about the whole market effect.