Is the price of ethereum dependent on bitcoin?

[welchmgra]

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.

May be some factors are there which may put some effect of bitcoin on other altcoins, but I think that still they are not totally depending on bitcoin. Every altcoin has their own mission, their roadmap and white paper, they do not have any direct link with bitcoin, therefore I do not think most of the altcoin are effected by bitcoin.

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[zhengqiurong2@163.com]

Yes, this is for sure. All coins rely on Bitcoin, but the degree of dependence is different. Bitcoin represents this entire industry.

[dreadfullICO]

I think that prices of all alts depend on the BTC price more or less, ETH is strong and had shown that it works, but still BTC is the king.

[phurrey]

All prices depend on each other and it is important to choose a good project so that it is not very tightly linked to the price of other assets. There are not many such projects.

[mrs_bitcoin]

Direct dependence, most likely, no. But the market is a whole organism, a whole system, and there is always something that affects something.

[valintino7]

I think it is like that if ethereum prices depend on bitcoint, but not only ethereum all coint prices also depend on bitcoint, if the bitcoint goes up it will increase, and vice versa

[jeruk nipis]

I don't think it depends. because however they are stand alone. And they both have advantages and disadvantages. So I guess for both is indeed not mutually dependent upon one another.

[indrakusumaindra]

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

Yes it's , Bitcoin is the first coin with the largest community and bitcoin price does affect the whole market cause many coins are paired with bitcoin in exchange and also right now bitcoin has a lot of dominance with small movements of bitcoin it will affect the marketcap drastically.

[vinayak2628]

Some what yes.... Ethereum price is depends on bitcoin. If yoy ethereum so how determine the price of that ethereum? If you campare with bitcoin you will know exact price of that ethereum. So, bitcoin price down then ethereum price will also down.

[hydrococo]

Maybe it could be the case. Because no matter how the market will indeed mutually dependent upon one another. and indeed this is bitcoin very large coin sale. So that could affect the other.

[otunayode]

Prices of altcoin market and cryptocurrency in general rely on bitcoin price for growth in the market. For now, ethereum is not an exception to this and this price mechanism might stay that way until there is a break out in capitalization of other coin aside bitcoin!

[Gudhal Untu]

I don't think that, even though bitcoin is the most influential coin but the number of tokens and exchanges that only use ethereum makes ethereum prices independent and does not depend on bitcoin prices, see when bitcoin prices rise or fall, this is not directly proportional to the ethereum chart.

[nasipadang]

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

If we use market logic in my opinion, because ethereum uses bitcoin for their coin value, even though ethereum uses usd and usdt but eth / btc has a higher volume, so if only the market demand for bitcoin falls then the traders and holders prefer hold and resulted in demand for ethereum also dropped. For the truth, I don't really know because it is based on what I see and there are also those who say that it is true or not, because I think the perspective of everyone is different and I appreciate that.

[arkaasay]

Actually it's not a mindset anymore, it's a reality. other coin prices depend on bitcoin because when the price of bitcoin drops, the other price of altcoin will also drop, so the price of eth also drops.

[kenmobility]

I wonder why some one would think such, it is known that bitcoin is the father of all crypto currencies, so regardless of whether the coin is ethereum or not, every coin is affected by the rise of fall of bitcoin

[yeniruieni]

It's already lasted very long and until recently the ETH keep abreast of BTC. And this I think is very good for the development of all Altcoin. BTC continues to grow and currently, its value is very high and many people hope that the BTC would repeat events such as the end of the year 2017.

[Merit888]

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

Honesty, i agree with that opinion. If i see and observe the progress of cryptocurrencies's price in the coinmarketcap, the price of btc can affect for most of altcoins, include eth. Like today, the price of btc still decrease and reach $6,900, and it affect to eth too. The price of eth decrease too and reach the price $280. Because of btc is the first coin in the cryptocurrency, of course the value or demand of btc can influence for another coins, include eth.

[MIZANUR5033]

It's a very interesting thing to answer. I can give a very short answer in this topic and the answer is yes eth depend on btc. Not only eth but every single coin of this crypto market depend on this btc price.
There are many reasons behind this first is this coin can use it anywhere in this whole world and its the first crypto coin of this market and has a good liquidity so people can use it. So it's true that eth depends on btc. But the fact is all the coins were doing good in the golden era time of this market. Let's hope again.

[Lydiaglo]

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.

A psychological effect may be there, otherwise I cannot see any other reason for which bitcoin is effecting other altcoin. Now people have become mature and they select different good altcoin for their investment to make money from there.

[Packagetol]

I think every other coin or token in the market depends on bitcoin price to a level.. because most of this coins are pair alongside bitcoin