How Bitcoin Price Effects Alt Coins Price

[Marahunter]

Very risky trade. I cannot convincingly claim that one way or another things will develop in a certain way. To be safe, try to hedge yourself by splitting your investment into two. Win-win situation both ways

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[Bitminer1224]

Really you want to keep a good portion of your portfolio in Bitcoin. To get the best of both worlds you could easily sell part of your portfolio at a loss for some BTC and hold both.
Alt coins should have a strong connection between BTC since people most of the time go FIAT -> BTC/ETH/USDT -> Alts. Bitcoin is always used to buy alts so the price of alts is pretty much always in satoshis and not fiat.

[coinxwife]

Bitcoin is a face of all cryptocurrency, if the price on market change the altcoins will be affected somehow on other coins will do the same, their are other coins slowly down but feels the effect of dropping down the bitcoin...

[arpon11]

Hi All

I am a newbie and have a couple of questions, I am hoping you can provide advice on. I have bought XLM/BTC and XRP/BTC which has dropped over the last couple of days. I have heard the SEC may approve the EFT on the 16 August 2018 which will boost the BTC price. With the BTC Dominance at 47.3% should I sell and accept a loss or not sell and wait till I make my money back? Also in your opinions will the Alt coins vs BTC plummet if the BTC shoots up to $15-20K? If this is the case I take it you stay with BTC and then buy the ALT coins when the XLM/BTC is very low?

Many Thanks

Seabass22 

Bitcoin is a driving force in cryptocurrencies market and if you can understand how the Bitcoin market works you can actually invest in altcoins along side.. Any of us fail in trading buy flipping our coins at the wrong time but the reality is that what happens to bitcoin is what affects the altcoins market.

[CryptoBry]

In the world of cryptocurrency investing, nobody can be sure what will happen next therefore all we can do is speculate which can mean we hit it right or we are dead wrong. I am suggesting that you hold on to your Bitcoin and maybe some other coins belonging to the top 10 of the class as these are the assets that can easily go up when the bull run will start. As to alts, there are some which are really good but majority are not so always be careful. Frankly speaking, most of the times it is just hit and miss though analyzing the market and getting what others feel and say can definitely help you decide which to hold and which to let go. Good luck!

[Psynthax]

Hi All

I am a newbie and have a couple of questions, I am hoping you can provide advice on. I have bought XLM/BTC and XRP/BTC which has dropped over the last couple of days. I have heard the SEC may approve the EFT on the 16 August 2018 which will boost the BTC price. With the BTC Dominance at 47.3% should I sell and accept a loss or not sell and wait till I make my money back? Also in your opinions will the Alt coins vs BTC plummet if the BTC shoots up to $15-20K? If this is the case I take it you stay with BTC and then buy the ALT coins when the XLM/BTC is very low?

Many Thanks

Seabass22 

Bitcoin is a driving force in cryptocurrencies market and if you can understand how the Bitcoin market works you can actually invest in altcoins along side.. Any of us fail in trading buy flipping our coins at the wrong time but the reality is that what happens to bitcoin is what affects the altcoins market.

No, it's not driving the whole of crypto. The fact that the whole of cryptos are using the bitcoin/USD pair to determine how much their value. Remember even all of major crypto such as ethereum, ripple and many more still use it to determine how much price for each coin.