Is the price of ethereum dependent on bitcoin?

[askmecrypto]

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

Not just ETH but anyother ALT price in a way or other depend upon Bitcoin. The main reason for this is BTC having the biggest pair with these ALTs. A lot many people buy BTC first so that they can diversify there BTC in different ALTs and generate more BTC by trading.
For ETH as well, the biggest exchange Pair is BTC, USDT comes next and FIAT is not really an option for a lot of investors.

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[clonedone]

All altcoins depend on bitcoin, that's why the entire market bleeds if bitcoin falls down. At the same time you should remember that any altcoin can grow, despite the fall of bitcoin price, if it has some strong reasons, for example the launch of main network of this coin or any other big and important news about the coin.

[lingter34]

Of course, everything was draped from Bitcoin. not only the life of Ether. But now the picture is different. I generally think that soon all the Crypto currency will live and depend only on itself.

[Lider_Trade]

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

in theory this usually happens. not only the etherium depends on bitcoin, almost all the market has dependence on bitcoin. The reason is very simple, bitcoin first.

[GanaJJ4]

Time shows that it depends. If we look closely, we will see that the cost of bitcoin has increased by 500% in the last year and more than ten times the cost of Etherium. However, Etherium is growing even faster, but not so much to overtake and surpass bitcoin.

[jorgelugra]

I don't think so but I am not sure because they are competitors and both are enough powerful. To my mind, it is better to use btc than ether but most traders advise to consider investing in ether as well

[Quenanz]

Of course , compare the graphs , even they are almost the same, bitcoin is very certainly affects all the coins, he is the Creator of all that is now on the market .

[HashieNewb]

Time shows that it depends. If we look closely, we will see that the cost of bitcoin has increased by 500% in the last year and more than ten times the cost of Etherium. However, Etherium is growing even faster, but not so much to overtake and surpass bitcoin.

Ethereum is growing fast. Bitcoin is also growing fast, it does not need to be replaced by any coin this year.

[costgranda]

The prices of all altcoins depend on BTC price. It is the fact which is shown recently. BTC has fallen almost by 3 times for the last eight months, and the price of ETH has fallen even more. Altcoins can't constantly grow if BTC falls. BTC is the stablest coin on crypto the market.

[ForTheAzerot]

BTC has a huge dominance on the market so it affects the growth of Altcoins very much and it can be seen in the last months.

[Milla Komani]

I believe that they are all interconnected. The Bitcoin price is directly proportional to the other Altcoin. So everyone is waiting for Bitcoin's growth)))

[WonkaLuisAL]

Well, bitcoin dropped and ethereum dropped too recently, and now they are recovering at pretty much the same pace so I still think there is a relation between them, however, other altcoins do seem more independant day by day.

[Tcpark]

Frankly speaking, the price of all altcoins depend on Bitcoin. for BTC dominance is over 55% and growing everyday.

[Klintiv]

I have no doubt that Ethereum depends on bitcoin price. bitcoin has a huge impact on all altcoins

[BoozeRus]

Maybe, those competing cryptocurrencies must remain long term however those shall not stay user's optimal election for normal guys pointing to revenues first few weeks seeing the environment use cases plus nowaday's professionals reduced participation.

[bitkanu]

The prices of all altcoins depend on BTC price. It is the fact which is shown recently. BTC has fallen almost by 3 times for the last eight months, and the price of ETH has fallen even more. Altcoins can't constantly grow if BTC falls. BTC is the stablest coin on crypto the market.

It's not that ethereum price is completely dependant though. There's always a time when ETH going the opposite direction to BTC and I think that if BTC go down it will emotionally affect ETH holders aswell
since most of them still consider bitcoin as gold of cryptocurrency that need to be reserved by them. People are just freaking out when crypto market decrease, it's like they try to bag btc as much as they can than altcoin.

[kotajikikox]

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

Not only ethereum will follow the price of bitcoin but also includes all altcoins are affected when is bitcoin price comes either goes uprise or goes downfalls the whole cryptocurrency are affected because all altcoins are base on bitcoin value.

That's only my own opinion😀😀

[vavanpetrofan]

Very often this is true. But there are also other factors that affect coin prices. Bitcoin is able to influence the entire cryptocurrency market.

[gravitik]

the influence of bitcoin on Ethereum can be easily seen on the price charts on the exchanges. and bitcoin has an impact on all altcoins

[permatasai]

I once thought that bitcoin was the basis for the value of almost all crypto coins because bitcoin is the father or mother of crypto. the dependence to convert the value of one coin to bitcoin is the basis they will still continue to use bitcoin