How does Bitcoin affect to the other cryptocurrencies?

[rohican]

Many people say that the prices of the alternate cryptocurrencies are reducing because of the reduction of BTC prices. Bitcoin is know as the first crypto currency but other alternative currencies such as Eth, Ripple, Lite works as individual platforms. Therefore how the other crypto currencies depend on BTCs?

It seems to have something to do, because after all the bitcoin fluctuations will affect Altcoin holders to make decisions.
Everyone waited, and that was the main problem. So it seems like this trend will last for quite a long time.

[farnandezetn]

As the price of other altcoins are dependent on the price of BTC. The price of other altcoin affect when the price of BTC falls down. This is happing from the very beginning in the crypto industry and for this reason many of the altcoins price are down due the price fall of BTC.

[Lagrood]

Bitcoin affects on the whole crypto market. Bitcoin is like a benchmark. The current market is bearish and almost all altcoin go down excluding very strong ones. Anyway we need to wait because we do not have a choice we cannot stop the downtrend.

[pauline_78]

We all know bitcoin is the market leader. They are the pioneer coin also. That’s why every coin follows their strategy. If bitcoin price fall down then other coin investors also feel other coin price will also fall down.

[semutracing]

most trading partners are btc. We rarely see exchanges with fiat trading partners. But I think there is an exchange that works with this but when bitcoin increases altcoin the price also increases, not all but most. And this also occurs in the reduction of bitcoin as well. I think this is because of trading partners. Most trading partners are eth or btc

[Heruwa]

Bitcoin does affect altcoin, but in this case, it depends on the demand and supply of altcoin itself. Sometimes every day there is altcoin that appears so many offers but sometimes the demand is only a little so altcoin is less desirable. For bitcoin as an indicator will remain the benchmark in the world of crypto.

[HerbertMarcel]

Actually there is no empirical evidence that bitcoin affects the altcoins but it has been seen from the past that the price of altcoin is affected by the price of the bitcoin. There can be many reasons. I think bitcoin is the market leader and the most powerful coin in the market. So people consider bitcoin as the pulse of the market.

[ifightformerkel]

Although coins like Ethereum work on their own platform, they are still dependent on Bitcoin. The entire cryptocurrency market is heavily dependent on Bitcoin, as this coin dominates the rest of the cryptocurrency market.

[jackhdt]

Whoever has the altcoin in the portfolio , they all know when bitcoin price slide down , the rest of the electronic market will fall sharply. Similarly , when bitcoin growth returns , the altcoin tend to work better. It's the first and most important electronic currency of the currencies market , bitcoin is like magnetic needle valuing the entire market

[Jolozxc]

Yeah I noticed it too, When the bitcoin price goes up the altcoins or other cyptocurrencies goes up too, But when the price goes down like what happened they called blood bath the other cryptocurrencies are on red too. I think all the altcoin or cryptocurrencies are really depending on bitcoin movements and I really want to know too why.

[Jazvebtc18]

Many people say that the prices of the alternate cryptocurrencies are reducing because of the reduction of BTC prices. Bitcoin is know as the first crypto currency but other alternative currencies such as Eth, Ripple, Lite works as individual platforms. Therefore how the other crypto currencies depend on BTCs?

Bitcoin is the first cryptocurrency who are recognize by some countries. The price of the altcoins really depends on bitcoin. Volatility of the bitcoin connects to the prices of the altcoins. It is the pioneer coins that's why altcoins follow some strategies on how bitcoin works.

[loragean03]

Many people say that the prices of the alternate cryptocurrencies are reducing because of the reduction of BTC prices. Bitcoin is know as the first crypto currency but other alternative currencies such as Eth, Ripple, Lite works as individual platforms. Therefore how the other crypto currencies depend on BTCs?

it affects all the altcoins in a way of moving like a whale, I mean, investors has a kind of scared of losing money online (crypto currencies) therefore when bitcoin declined, the value of the other coins/tokens will declined too. sometimes switching investment into other platform can affects the price of bitcoin and other altcoins also. so the manipulation is real, whales are exist in this kind of business that can manipulate all the price in crypto mostly in bitcoin.

[Souldream]

As the price of other altcoins are dependent on the price of BTC. The price of other altcoin affect when the price of BTC falls down. This is happing from the very beginning in the crypto industry and for this reason many of the altcoins price are down due the price fall of BTC.

This is what I have observed too that was happening in the market today that the value of altcoins are based on the value of bitcoin too. I don't also know why this is dependent on the status of bitcoin but I think it is the reason why bitcoin is remaining on the top of the list in Cryptocurrency world

[trobbert]

bitcoin is often viewed as a "reserve currency". The ups and downs of its prices often affect the cost of other coins. So, the price of Litecoin often repeats the movements of the bitcoin price with the only difference being that it does not have an increase in the complexity of mining. Given that bitcoin was the first cryptocurrency and is most popular, it's no surprise that its value affects other coins.

[lenini]

Probably there is no direct dependence, they often move in tandem, but sometimes their ways diverge in opposite directions. Sometimes in the market there is a situation in which several digital assets start to move up or down. In other cases, the same crypto-currencies demonstrate a complete lack of price correlation.

[Ostonian]

It's really stupid. Indeed, most coins have their own platform. But it is very difficult to explain why this happens. Yet they see that the market is growing and falling just like bitcoin.

[atop3478]

As far as I know, bitcoin is like gold in the current currency. Gold is the first currency that survived long enough on earth after the barter era. Even today gold is not used for currency, but the price is still the highest than real money. So my point is Bitcoin as mother of cryptocurrency will affect Altcoin until Altcoin can be used in real life (legal currency). And then the fate of BTC will be like Gold at this current time.

[sindikat]

It's really stupid. Indeed, most coins have their own platform. But it is very difficult to explain why this happens. Yet they see that the market is growing and falling just like bitcoin.

It seems to me that you do not understand the level of interaction of altcoins with bitcoins. Bitcoin has always been and will be the main cryptocurrency that is the standard of value of all altcoins. Free capital that can not for various reasons be placed in bitcoins settles in altcoins. As soon as bitcoin reduces the price, a panic in the market is created and investors urgently sell all the crypto-currencies because of fears. Now the capital does not flow from one cryptocurrency to another so the prices react synchronously.

[nawosecad68]

Many people say that the prices of the alternate cryptocurrencies are reducing because of the reduction of BTC prices. Bitcoin is know as the first crypto currency but other alternative currencies such as Eth, Ripple, Lite works as individual platforms. Therefore how the other crypto currencies depend on BTCs?

I think because it is the dominant cryptocurrency as of now. The other cryptocurrencies are directly proportional to the bitcoin when it comes to the value per each token. So if the bitcoin price rise high the other cryptocurrency as well and vice versa.

I agree with you. Bitcoin is the first and major crypto currency. So, when bitcoin prices soar, other altcoins will slowly follow in their footsteps. In other words, bitcoin is a price indicator for coins or other tokens, even if the price of a coin is essentially determined by demand and supply.

[bitblasta]

imo it's the other way around, other currencies that launch up every other day get investors who send their btc exchange for that coin. Which result in bitcoin price decline. Bitcoin gets massive hit from sell off from alt currencies investors.