Is the price of ethereum dependent on bitcoin?

[veekky]

Not only price of ethereum, but also price of each altcoin is dependent on bitcoin. So I believe btc is a trigger for each crypto.
At the same time ethereum can rise faster and fall deeper in terms of BTC

[Lareina]

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.

Because people are more inclined to believe in bitcoin. It was originally one of the most valuable currencies in the encrypted currency. Even ETH can't challenge its price.

[Tylev]

Virtually all coins and tokens depend on bitcoin in their price. This is because bitcoin has a very high level of capitalization and this gives it the opportunity to dominate the price over other types of crypto currency. I think that such a situation in the crypto-currency world will not always exist. Someday there will come a stage of market maturity and each coin or token will develop in price independently.

[veekky]

Yes, it depends, but in general majority of altcoins are dependent on BTC, so it is a market feature.
 I hope in future there will appear altcoins independent on BTC price movement.

[cllo78]

I think this is normal. Not only does the price of Ethereum depend on Bitcoin, but all cryptocurrency prices are dependent on Bitcoin. Bitcoin is the leader of cryptocurrency and is also the representative of cryptocurrency, as long as bitcoin rises all The coins will rise, and all the bitcoins will fall.

[cola-jere]

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

All coins that are paired with BTC will have "some" dependency with bitcoin as the dominant coin. Basically, bitcoin price still controls the crypto market.

[mbangsar04]

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

In my opinion, the price of other coins depends on bitcoin because when the price of bitcoin falls, other altcoin prices will also drop, so ethereum prices also fall. but when the price of bitcoin goes up, the coins and other eth will rise too. so it's interconnected between bitcoin and altcoin.

[chenjkai]

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

Bitcoin is the de facto digital currency. Fiat-ETH conversion is not offered by all exchanges and you have to spend BTC to trade ETH. The majority of altcoins can only be traded in BTC. And then the entire cryptospace is highly correlated.

[Virtuxq]

if you look at the exchange, you will see that Ethereum completely repeats the rise and fall of the price for bitcoin.

[GERMO COIN]

I think yes, because as we see that ethereum prices will increase when bitcoin prices increase and ethereum prices will also down when the price of bitcoin down, so in my opinion ethereum prices are still dependent on bitcoin.

[Crytptomeniac]

I don't think so, in fact it is one of the most independent alts there is, we could see in the last few weeks how the prices of bitcoin plummeted and ETH was still at the same price, only now after months is that ETH is coming down, because obviously there is not as much investment in the market, or at least not as last year.

[norcia]

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

If most people have the same mindset, then that will happen. I think only a different percentage, but the trend remains the same. And in general this will be a general indicator, because crypto does not have any real intrinsic value unless it is from a consensus formed by the community.

[PutuPartoHarjo]

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

I think it's not a market that affects our mindset, but our mindset that affects the market. Even with different fluctuations, I think there is indeed a correlation between the trends of Bitcoin and Ethereum, and even all of the altcoins. So I think this is a form of our mindset, that all coins will move in almost the same direction.

[zekarsalih]

I think, yes of course, all the altcoins prices are dependent on bitcoin. Absolutely all coins immediately react to the change in the rate of BTC. BTC is growing, growing, everything else falls BTC and everyone falls for him.

And yet, as I am watching the Coincap app on my phone I can distinctly see that while BTC price goes down by the second, the prices of some coins can go up. On a daily basis, they can be even inversely correlated with respect to BTC.

[GsxR150]

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

In my opinion, of course it would be a reasonable thing when the price of Bitcoin affects the entire crypto market situation. Bitcoin dominance is more than half, and when there is fluctuation in Bitcoin, the total marketcap will be affected, and that will be a stimulant for the community to make decisions.

[maro101]

All altcoins will to some extent depend on the cost of bitcoin. However, in some cases, the price of altcoins may vary greatly despite the cost of bitcoin. I consider the dependence of altcoins on bitcoin until the full regulation of this market begins.

[siap86]

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

The market seems to influence each other, even though the percentage will be slightly different. I think the market today is very much influenced by short-term traders, which is why some of them have the ability to influence prices. And when significant fluctuations begin, all krypton will have the same direction as Bitcoin, even altcoins like Ethereum.

[cryptotale]

Indeed, what I have observed is that almost all of the Coins in Altcoin always keep up with the price dynamics of Bitcoin, including Ethereum. It is clear that Bitcoin is the only coin whose position is very influential on the price of other coins in Altcoin. In fact, that is so.

[Endank]

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

If we compare the graphs of both, then the answer is of course yes. And maybe not only Ethereum, but Bitcoin affects all altcoin prices.
And I think a trend like this will last for a very long time, because volatility will affect the crypto price more than the product it produces.

[Kartika1]

i think it's not just ethereum, so many altcoins is depends on bitcoin trend. so many altcoins is following bitcoin uptrend or crashing. just the ico token that can rise without bitcoin trend