Is the price of ethereum dependent on bitcoin?

[Nivia1st]

basically all altcoins are still dependent on bitcoin, so it's not natural that ethereum is still affected by the impact of bitcoin prices.

[Masatos]

Ethereum is very dependent on Bitcoin like all other altcoins. this is normal and there is nothing strange in this because bitcoin is the most important coin on the market

[senin]

Of course, the price of ethereum, like other cryptocurrencies, directly depends on the price of bitcoin. Bitcoin can dominate other types of cryptocurrency due to its high level of capitalization. Bitcoin capitalization is now about 114 billion dollars, while ethereum, which has the second place in terms of capitalization, totals about 23 billion. The difference is very significant. As long as Bitcoin will have such an advantage in capitalization, as long as it affects the price of all cryptocurrencies.

[moshuk]

All are tied to the grandfather bitcoin. there is still a long time to go before the market is tied to bitcoin.

[abstmain]

Of course, this is true. All the altcoins depend on the price of BTC and ETH does so. When BTC increases, altcoins also increase. When BTC decreases, altcoin also decreases. The main reason behind this is all the exchange uses BTC/alt pair.

[Lmaooo]

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

No I don't think so. The ethereum and bitcoin are two different cryptocurrencies with different atmospheres, and how can the value of bitcoin determines the the ethereum price? The way I see it each of them has it own market share, therefore,  none of them will determine the price of the other.

[apalenkoff]

Yes, I think that there really is a point, bitcoint is the parent of all coints, if the bitcoint price goes up the other coint will certainly follow, and vice versa

I think it is fair to say that when bitcoin grows in price, all the other coins will not grow so strongly. Yet, when bitcoin falls, some altcoins may grow in price since bitcoin is exchanged to them(in rare cases).

[Anyobsss]

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

Yes this is true and it isnt only ethereum who is dependent  to btc but almost all of altcoins. This is because btc dominated most of the market. You can also notice it in the graph of the market when bitcoin's price drops other coins follows.

[defoman]

This is not the opinion of people, but a real fact. To check this, just look at the charts of price changes of these cryptocurrencies. Bitcoin throughout the time is the main cryptocurrency and its success or failure depends on the change in the price of all altcoins.

[ttking]

I think that maybe there is no the direct connection but in fact there is some influence. I think that they are both the leaders of the market and their prices affect each other somehow

[llyfee4u]

Very much so actually.  The price of ethereum and most (if not all) alts are massively impacted by the performance of bitcoin due to the the fact bitcoin is more or less the standard bearer in cryto currency.   Unfortunately, this is the fact of the matter for now but i think it is necessary that this doesn't always continue to be case.   Right now, if bitcoin dips, everything else bleeds ridiculous, therefore it is necessary to address this over dependence on bitcoin to determine how crypto market behaves.

[maometano]

I don't know the truth, my assumption is that altcoin always follows the increase in Bitcoin, it can be compared to the parent Bitcoin. Ethereum and Bitcoin are different so don't ever think Altcoin will compete with Bitcoin prices that are very different. Ethereum is one of the coins that becomes faforit and many ICO platforms use Ethereum to be very often compared to its quality with Bitcoin.

[luckybit1]

Yes ,any way that's what i feel.I believe is not only ethereum that's is dependent on bitcoin.Bitcoin is the first crypto currency.

[xDispeLme]

for 9 months of market decline, ETH showed full dependence on the price of bitcoin

[SashaVeg]

I believe that all coins depend on Bitcoin. And especially ethereum because it is the second after Bitcoin. As Bitcoin will set the pace of growth it will.

[kjn311]

Today, there is no doubt about the enormous impact of BTC on the overall state of the crypto market. Therefore, I am sure that now Ethereum prices directly depend on the dynamics of BTC. BTC also affects the prices of other altcoins.

[jfederkins]

It could not be discussed at all because this dependence in too big and strong and this problem is very serious on the market and its cryptocurrencies as well.

[moepaing]

This dependence ine miningful for ETH but BTC is not so bad influencor as you could think. It also brings new chances for the improving for the ETH.

[ryanfromrethink]

BTC today really makes a huge difference for the entire crypto market. The price depends not only on Ethereum, but also on the majority of reliable cryptocurrencies. Therefore, I am sure that today the bulk of the money must be invested in the purchase of BTC, although you can choose some promising altcoins.

[Khiceog]

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

It seems to me that this is so. In General, all cryptocurrencies grow up a little when bitcoin grows. And Ethereum grows up in 90% of cases of bitcoin growth. The growth may be quite small, but it is still there