What kind of magic is this?

[mi56374100]

The price of all the counterfeits depends on the price of bitcoin, but that doesn't always happen immediately. Much of the capital is concentrated in bitcoin, which accounts for more than 50 percent of all cryptocurrencies' market capitalization.

[fimtuao]

I can give you a simple explanation.
The drop in ETH is caused by ICO. Many ICO projects use a large amount of ETH to convert into cash after fraud, and investors are forced to abandon their investments because of fraud. In this case, the price of ETH will be greatly affected!

[cryptomanspbmgdn]

new equation: bitcoin up-altcoins down, bitcoin to the bottom-altcoins to the full bottom)) I really hope that someday altcoins will not depend on the price of bitcoin.probably it will not be soon or no(

[emmaong12]

That's just how it is because bitcoin is by far the biggest coin and main trading pair. Some of the other bigger coins effect the price too.

[kent47400]

This is the natural cycle of cryptocurrency, you don't be surprised by all this.
I also understand this and I better hold my FIAT on the local market, then when I have NEWS I can buy Bitcoin or altcoins.

[fosco333]

I've been monitoring the market for a couple of months now. Most of the coin value rely on the price of Bitcoin. If the BTC price goes up, every altcoins will follow and if it will goes down, the price of every altcoins will goes down as well. But the question is, Bitcoin price/value is still going up but the price/value of every altcoins especially Ethereum goes down. How did this happen? Any logical or scientific basis to explain this. As of now, I am still confuse. 

The altcoins price not really depends on bitcoin. When the ETH price dropping great, btc price is still above $6000.
i think the most plausible explanation is, because many holders change their portfolio from altcoins to bitcoin.
There is a high possibility that they sold their altcoins to buy more bitcoin.

[gameofthronne]

I've been monitoring the market for a couple of months now. Most of the coin value rely on the price of Bitcoin. If the BTC price goes up, every altcoins will follow and if it will goes down, the price of every altcoins will goes down as well. But the question is, Bitcoin price/value is still going up but the price/value of every altcoins especially Ethereum goes down. How did this happen? Any logical or scientific basis to explain this. As of now, I am still confuse. 

It's not magic, it's normal happened. Everytime the bitcoin price increase, other altcoins like ethereum, BCH and many alts will go up too. It's always like this since the market crash in the early 2018. I think it's because of bitcoin is the biggest cryptocurrency and bitcoin market is the biggest too.

[zxl912157]

That could be due to the aftermath of the World Cup.

I think the World Cup has nothing to do with Cryptocurrency, because I saw yesterday at the end of the World Cup Final the price of Bitcoin has decreased in price.
It's different maybe if the World Cup ticket uses cryptocurrency, then the price of Bitcoin will be and all the altcoins are of course.

[brenzosa]

I've been monitoring the market for a couple of months now. Most of the coin value rely on the price of Bitcoin. If the BTC price goes up, every altcoins will follow and if it will goes down, the price of every altcoins will goes down as well. But the question is, Bitcoin price/value is still going up but the price/value of every altcoins especially Ethereum goes down. How did this happen? Any logical or scientific basis to explain this. As of now, I am still confuse. 

i guess maybe some big ICO projects like EOS have gathered too many ethers and they are dumping their eth on the market in exchange for cash or bitcoins.  or maybe people are realizing the value of ethereum's competitors and are switching to them.  competitors such as eos, neo, waves, bitshares also offer smart contract and the performance is better than ethereum blockchain.

[glasbren]

I've been monitoring the market for a couple of months now. Most of the coin value rely on the price of Bitcoin. If the BTC price goes up, every altcoins will follow and if it will goes down, the price of every altcoins will goes down as well. But the question is, Bitcoin price/value is still going up but the price/value of every altcoins especially Ethereum goes down. How did this happen? Any logical or scientific basis to explain this. As of now, I am still confuse. 

I think it's related to psychology, since Bitcoin is the pioneer of all cryptocurrency, and that is embedded in people's mind, makes them think that Bitcoin is the mother of all cryptocurrency, that way when ever the price of BTC dropping it affect people to sell their altcoin due to worry if their coins will loss its value, that way makes the price of altcoins dropping.

[mbah]

things that you would not necessarily be the correct analysis. bitcoin ride but there are phases where altcoin down and thus may be the opposite. Indeed the certainty in the market there would be no one knows for sure and prices that exist in the market will depend on a request or offer. continued to observe the market because certainly the longer it will be able to understand any existing conditions.

[PM.coins]

I've been monitoring the market for a couple of months now. Most of the coin value rely on the price of Bitcoin. If the BTC price goes up, every altcoins will follow and if it will goes down, the price of every altcoins will goes down as well. But the question is, Bitcoin price/value is still going up but the price/value of every altcoins especially Ethereum goes down. How did this happen? Any logical or scientific basis to explain this. As of now, I am still confuse. 

The altcoins price not really depends on bitcoin. When the ETH price dropping great, btc price is still above $6000.
i think the most plausible explanation is, because many holders change their portfolio from altcoins to bitcoin.
There is a high possibility that they sold their altcoins to buy more bitcoin.

You are right. Because bitcoin is more attractive and also a dream of many people. Maybe that is one reason to sell altcoins to move to bitcoin. The price of bitcoin is expensive, it will continue to be chased by many people to have bitcoin that has been believed to be the king of cryptocurrency. That's what happened and that makes sense in this mind.

[cryptotycoon33]

I've been monitoring the market for a couple of months now. Most of the coin value rely on the price of Bitcoin. If the BTC price goes up, every altcoins will follow and if it will goes down, the price of every altcoins will goes down as well. But the question is, Bitcoin price/value is still going up but the price/value of every altcoins especially Ethereum goes down. How did this happen? Any logical or scientific basis to explain this. As of now, I am still confuse. 

I think most cryptocurrency are facing a lot of competition in the blockchain technology space,especially Ethereum is the most affected cryptocurrency with the emergence of blockchains like NEO,CARDANO and EOS, however with the limited supply of bitcoin has been withstanding the pressure all alone

[starplaks]

You are right, all the coins are tied to bitcoin, and their price depends on it, but the price of bitcoin depends on capitalization ...

[soundrum]

It has always be like this, I think the influence of Bitcoin on the overall market is too much and there is a need of an alternative that will break Bitcoin and its influence in determining the price of Altcoins .

[SaoAccel]

I've been monitoring the market for a couple of months now. Most of the coin value rely on the price of Bitcoin. If the BTC price goes up, every altcoins will follow and if it will goes down, the price of every altcoins will goes down as well.

Since Bitcoin has the advantage of dominance in the market, traders most often use bitcoin as a indicator whether the market is going fine or not. So if Bitcoin is going up most likely other alt coins will follow but not all. Like wise when BTC goes down.

But the question is, Bitcoin price/value is still going up but the price/value of every altcoins especially Ethereum goes down. How did this happen? Any logical or scientific basis to explain this. As of now, I am still confuse. 

So the answer would be. More Investors and Traders would easily buy Bitcoin instead of other altcoin because of high volatility of alt coins.