Is the price of ethereum dependent on bitcoin?

[Kapee]

Most people have the mindset that the price of ethereum rises with bitcoin and vice versa. How true is this?

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[IVEXO]

Most people have the mindset that the price of ethereum rises with bitcoin and vice versa. How true is this?

Do not be surprised but the price of every altcoins are dependent on btc and it will continue to be like that until the market is stabled and regulated.
So literally just make convenient investment and trading and maintain the law DYOR
I believe Blockchain will eventually take over

[losiva]

In my own opinion price of other coins depends on bitcoin because anytime price of bitcoin went down, other altcoins prices will go down too, so even eth price also goes down too. but when the bitcoin price rises, other coins and eth will rise too.

[Cult]

For a lot of people bitcoin is an embodiment of cryptocurrency so whenever btc price changes it pulls almost everything else after it. I believe with time bitcoin's share of the market will get a bit smaller which will give alts a bit more independence.

[limtjoehua]

Most people have the mindset that the price of ethereum rises with bitcoin and vice versa. How true is this?

that's right, you can see and pay attention to the market. not just eth, but all alt. if bitcoin rises, then alt goes up and if btc goes down, then all alt come down.

[lifesgood10]

Most people have the mindset that the price of ethereum rises with bitcoin and vice versa. How true is this?

Actually it’s not a mindset anymore, it’s reality
Because it is reoccurring that once bitcoin drops value , all altcoins follow suits
But when bitcoin pumps higher few percentage of altcoins follow suit

We can argue all day, but it is still evident that btc is in control of all

[fempat]

To most people,  bitcoin is the only major cryptocurrency of value.  It's unfortunate but that's the reality.  There's this notion that if bitcoin fails,  every other cryptocurrency will fail too.  That's the reason why people panic sell when they see the price of bitcoin becoming low.

[chikucrypto]

I think the whole market is running with the bitcoin position if the bit coin is down market is down and if it is up market is up so i think ethereum price depends on bitcoin 90% .

[Gorodcoin]

It might be dependent for the price fixation as the bitcoin is the first hugest coin, but mainly ethereum is separate independent blockchain platform

[dele4]

yes it is true like that, altcoin price depends on bitcoin price. when the bitcoin price decreases, the other coins will also drop vice versa. indeed the market conditions can not be predicted because at any time can change drastically. do not be surprised but that's how the krypto market goes. and that's one of the risks we must accept when deciding to invest in crypto.

[hussnainali]

Well Ethereum has its own market but somewhere its price is dependent on bitcoin as bitcoin goes up or down ethereum along with other altcoins get effected as people cashout from alt coins and get enter into bitcoin which makes are drop in ethereum and other altcoins....

[acilona116]

Every coin depending on BTC. After all 1 BTC is 40% of all coins dominance. I wish to see one day some coin changes that, but it's not gonna happen anytime soon.

[vincentong17]

Yes it's almost the same thing just like any other altcoins out there. they have chain reaction but some utility tokens are pumping when bitcoin is on dip they have huge community that supports and pump the market.

[alenahype]

Ether and other other altkoins all depend on the king bitcoin which makes the market as it is now, and it will all depend on it until a new coin comes to the tsar's place that will give a new era and make a revolution

[Oasisman]

Most people have the mindset that the price of ethereum rises with bitcoin and vice versa. How true is this?

If you constantly checking on the market, you will see how ETH and even majority of the alts would be following the bitcoin price trend, and you cant deny the fact that what you just asked is true. Basically, because bitcoin is the general basis of every altcoin's value in the market. Bitcoin is like the USD in forex.

[Miztasnow3]

Is the price of ethereum dependent on bitcoin?
Yes, the price of eth is base on btc because whenever bitcoin is down eth is also. And when btc rises surely etherum will follow.

[jeni99]

that's true altcoin prices will follow bitcoin prices and it will continue to happen until bitcoin really becomes a digital currency in the use of global society and not just as an investment asset like gold.

[Benabod]

Most people have the mindset that the price of ethereum rises with bitcoin and vice versa. How true is this?

Most definitely ethereum price and all other altcoins price largely depends on bitcoin price because btc is the big brother and the prime digital currency in crypto world so everything revolves around it but I hope sometimes in the nearest future the trend will be different

[Encelad]

Bitcoin is the most recognizable cryptocurrency with the largest capitalization. This is the very first crypto currency, the flagship of the whole industry. Therefore, the price of bitcoin affects all cryptocurrencies.

[BillCoin]

Ofcourse it is, because a large percent of Ethereum's volume is against the bitcoin, it's pretty clear that the bitcoin has a very strong affect on the price of Ethereum.

The price of Bitcoin affects the whole market, and when the whole market goes down, Ethereum will automatically follow as it's just a part of the market and it's market cap is not too high so it can do it's own movements.

Also when bitcoin goes down, people are interested to cash-out, which will usually cause Ethereu, sells against the dollars and not only against the bitcoin, and it will make the price drop even further.