Is the price of ethereum dependent on bitcoin?

[tobatz23]

I think there is a connection not only Ethereum but all altcoins to Bitcoin, If you take a look on the market price chart of bitcoin and ethereum, when bitcoin price goes down or rise, same with ethereum and other altcoins.

[yndye]

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

Not only ethereum but all other altcoins as well. Bitcoin has a big role in the prices of other coins because it is a base coin and since it has the first mover advantage and has the biggest share in market capitalization so whatever happens to the price of bitcoin, it is like a mirror of what happens to the total market capitalization which includes other coins. I assume that majority of people holds bitcoin and they just want to secure their funds that's why whenever the price of base coin (bitcoin) goes down, they would sell because they would know that the altcoin they are holding will go down as well which includes ethereum.

[wateball]

Yes, all cryptocurrency prices have a certain dependence on Bitcoin. After many conversions of bull and bear, it can be seen that bitcoin prices will play an important role in the market. Bitcoin prices will always be the first Move, other crypto currencies will follow, because Bitcoin will panic the market

[senopratama]

in fact, it was indeed all altcoin including the ethereum follow every movement of the bitcoin. so want to anyway good altcoin but if bitcoin down nonetheless rise it will not effect conferring great. Indeed feels unfair, but the system of altcoin of the first altcoin like that because indeed adopt what owned bitcoin.

[MancyZz]

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

with Bitcoin being so strongly making itself a benchmark for other coins. but I do not see Ethia depend on Bitcoin. because of the price of Ethereum increases according to developments that exist in Ethereum itself. so it can not be said for the price of Ethereum depends on Bitcoin.

[morphic]

According to past experience, the price trend of all cryptocurrencies is changing with Bitcoin, but I believe that each cryptocurrency will have its own growth trajectory in the future. They will not completely rely on Bitcoin, so the market will There is greater competition.

[Rayakitty]

I think Ethereum's price depends on Bitcoint, as well as for other types of altcont lannya, especially for tidal market conditions, all prices in the market plummeted, hopefully in the near future the market can be restored

[Anne8]

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.

Its true but when bitcoin loss power to other cyrptocurrency mean bitcoin also will be left by its holder.
Bitcoin holder now still exist because bitcoin is like controller. When price bitcoin is down and its followed by other coin. Its not 100% but its strong control enough.

[evok3d]

Now the mood of the market is determined by bitcoin. Ethereum takes the second line, but it, like all altcoins, is highly prone to changes in the bitcoin price

[Ra.moomoy]

I don't say so since eth has its own platform and can now be directly converted to fiat. All are going down at the same time so it looks like eth is depending to btc.

[cryptoadobo]

Based on the reality that happening right now when Bitcoin goes down other alternative coins like ethereum also goes down. In conclusion, ethereum is very dependent to the price of bitcoin and it is very rare to be inversely proportional prior to bitcoin and ethreum.

[Siblack]

the fact is if the bitcoin price drops then the price of other coins will also drop. it can happen because bitcoin is the most favored coin among other coins and can be regarded as the king of cryptocurrency, so the price is also used as a reference for coin market price, and most of the coins will follow bitcoin price.

[carles enck3]

Comparing Ethereum with Bitcoin is a bit redundant, but we can take some important information from the differences found on both platforms.Bitcoin is the digital currency that was originally created as an alternative to the financial system.Ethereum is also created as a blockchain 2.0 platform that can be used to create and run smart contract applications through blockchainI think the price of ethereum does not depend on bitcoin..

[Rox123]

The correlation between two assets (be it crypto or normal financial) isn't something constant.

Sometimes it exists, sometimes not.

Having said this. The last year, based on my observation, the correlation between BTC and ETH was pretty tight. When one rose, the other dropped.

For some short period of times, however, we saw both (BTC and ETH) could rise.

Might happen, that one day (when the fiat money are massively taken from crypto) we could see how both decline.

[Vampirepro]

I don't think so. People using BTC (or actually hodling btc) just want to make money. It really is a gold of cryptocurrency. Whenever BTC price is pumping altcoins holders are selling everything because they want to be on this wave. For bitcoiners Ethereum is an altcoin. So ETH price probably would drop.

However, there are two kinds of people that holds ether. The first one is bitcoiners. They pump and dump because they want to make money. They are the reason why the ether price drops sometimes. The second type is the etherfans who want ether because it's not only better than btc, ether is just good while btc is just bad. These people won't dump because they know that ether is not a 'dumb brick" and it might be very useful. It already is but only on a small scale. Ethereum have a very strong community sometimes the strong community that is devoted might not be enough. Even if Ethereum will be improved it might get crushed under the BTC that would hit, let's say $2.000 or more. It's also possible that someday Ethereum will eat Bitcoin for breakfast but it definitely won't happen in the nearest future.

[v3liana]

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

yes all coins in market are affected by bitcoin price, especially when bitcoin going down.  Regulation is coming and i think it would be really hard to make regulations for cryptocurrency, cause seems like no one could control crypto except the demand of the market itself.

[firaituaku]

the rising and falling of bitcoin prices does greatly affect the price of ethereum in the crypto market because bitcoin is already considered the embodiment of cryptocurrency. any change in BTC price will change all other coins and will continue that way until the market stabilizes again. if bitcoin fails, another crypto currency will be considered a failure, that's because people panic when bitcoin prices drop.

[kuyaJ]

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

Yes, it affect the price of ethereum when the bitcoin fall but I think it is not about the bitcoin falls because if the demand was fall, it affect all cryptocurrencies, if there are something happen then it affect also the price of all cryptocurrency.

When I notice the chart of the market of ethereum and bitcoin then they are not the same and it is not always the same dump because they are different coin.  When there are too many person want to buy ethereum then the ethereum will rise but the bitcoin was not.

[eert]

I think all altcoins rely on Bitcoin, but if Bitcoin is stable, all altcoins rely on Bitcoin to a low degree. If bitcoin starts to fall, all altcoins will fall, and this will depend on the high level of bitcoin

[maryanti]

I also do not understand why the price of altcoin including ethereum depends on the price of BITCOIN? When the price of Bitcoin down Ethereum also come down.