Does bitcoin control the market?

[best ever]

Bitcoin is the king of cryptocurrency and the first of all among the other coins. Bitcoin controls the market.  It has influence on the cryptocurrency market because if bitcoin price rises, there's high demand on the market.

I would better say that those people, who control Bitcoin, control the market. These are the whales. The prices of the tokens naturally depend on the price of the main crypto, BTC.

[spadaccino]

Do not just look at profit in short time mate. There are more thing interesting here beside that. You can be safe again with the privacy that some crypto have to offer. You can own your coins and no other can control them and yourself.
Of course more money you invest the easy for you to gain some bucks speculating the price day and night but those are the bad guys like those who used to have control in bank system.

[muchachita14]

Bitcoin is the world’s first decentralized digital currency. The ‘digital’ part is self-explanatory. The term ‘decentralized’ means that there is no central authority like the Federal Reserve in the U.S.A or The Reserve Bank in India, that is in charge of Bitcoin. There is no authority that sets the price/value of Bitcoin, production and supply rate etc, for Bitcoin.

So a question arises, How is the value of Bitcoin determined?

The value of Bitcoin is determined entirely by the forces of supply and demand. There is no 3rd party involved in a transaction (miners are different case). This is the beauty of decentralization.

More the demand, more the price/exchange rate rises, as simple as that.

[CoinCodex]

Did you know that more than 50% of BTC's belongs to different wallets with more than 200 BTC per wallet? Fun fact

https://coincodex.com/article/2370/55-of-all-bitcoin-belongs-to-wallets-with-200-btc-or-more/

[Gontxi]

that's what really happened, because bitcoin has controlled the market. you can see in the exchange when bitcoin falls eating the altcoin will follow a deeper fall, can't you compare it?

[kzozenberg]

I think that bitcoin controls the altcoin market as it all depends on its behavior on it but also any alctoin can grow regardless of the bitcoin because of the news background !

[Garrixx]

Most people believe that the price of altcoins' is determined by the price of bitcoin and that they tend to follow it's market movements.

I partially disagree with this. I have studied prices of coins and tokens on CMC and the fluctuations of each currency seems to be unique and independent of any other digital currency. Some show strong pumps when BTC goes down and some heavy dumps when BTC is rising.

Undoubtedly, there are market forces and factors which affects most currencies, this is not influenced by bitcoins price, it rather controls bitcoins' price as well as others.
So when trading or investing, make sure you treat each currency differently as they have different utilities.

Bitcoin doesn't control markets, but... altcoins price are based on bitcoin, that's why bitcoin doesn't control them but it have some influence in them, let me explain. If one bitcoin cost $10,000 and the alts price are based on btc, then if bitcoin lose a percent of his price (lets suppose it goes down to $9k) all the alts loses his 10%, they will cost the same amount of bitcoin, but since btc goes down, when we make the conversion from the alt price to usd we will see that -10% on the cash price.

no as practice shows if bitcoin sags in the price, then the altcoins also sag by the ratio to bitcoin, that is, even more than bitcoin. if in the bear market you want to store money in the crypto currency then you need to store them unambiguously in bitcoin because it falls the least. You can look at all the grids for all the years so it was in 100% of cases

[CrazeCoinz]

Most people believe that the price of altcoins' is determined by the price of bitcoin and that they tend to follow it's market movements.

I partially disagree with this. I have studied prices of coins and tokens on CMC and the fluctuations of each currency seems to be unique and independent of any other digital currency. Some show strong pumps when BTC goes down and some heavy dumps when BTC is rising.

Undoubtedly, there are market forces and factors which affects most currencies, this is not influenced by bitcoins price, it rather controls bitcoins' price as well as others.
So when trading or investing, make sure you treat each currency differently as they have different utilities.

I think the price of Bitcoin will mostly dictate the market as those alt will be affected with the fall of Bitcoin price as we seen the the bearish situation. Although some me rise but can't sustain if the bearish trend continues.

[alexs_03]

I think, despite what condition the market would not be, the market should always be watched! because there is not much that will be

[market-beta]

if I think bitcoin is the king of all coins. even if I notice almost all of the coins follow the bitcoin price movement. because bitcoin is the center of price / controlling the crypto market

[Assface16678]

We can't really say that Bitcoin controls the market but it has a huge impact on it, not only because it is the main currency for most Altcoins but also because  it is the ground and the backbone of the whole cryptocurrency world, any news that effect Bitcoin whether it is good or bad it will affect other coins, and that is totally normal because simply we are talking about the dominant currency here with almost 50% market cap.

But then majority are in bitcoin so there is a huge possibility that ot is really the bitcoin who controls the market. But the truth is, it is themarket who controls the bitcoin and altcoins. Because we can see that if there is small number of users we can predict the downfall of bitcoin and so as the others.

[Ramya494]

I don't actually think so,Because if the alt coins are really potential The Pump and Dump of Bitcoins doesn't affect them at all.There are many other coins which actually showed huge pump when Bitcoin is really down.Just people who are against Bit coin try to create the FUD.

[Schirer]

Most of the coins are traded only with btc or eth.
this means wif the value of eth or btc drops the altcoins also drop in value relevant to FIAT, that it.

If you want to check some altcion values, then you should check their value against eth or btc, then you will see if the alt is dumping or no

[Tamilson]

We can't really say that Bitcoin controls the market but it has a huge impact on it, not only because it is the main currency for most Altcoins but also because  it is the ground and the backbone of the whole cryptocurrency world, any news that effect Bitcoin whether it is good or bad it will affect other coins, and that is totally normal because simply we are talking about the dominant currency here with almost 50% market cap.

But then majority are in bitcoin so there is a huge possibility that ot is really the bitcoin who controls the market. But the truth is, it is themarket who controls the bitcoin and altcoins. Because we can see that if there is small number of users we can predict the downfall of bitcoin and so as the others.

First thing, bitcoin have a huge investment and all eyes are on here and if ever bitcoin had some correction and the fud is like a wild fire that spread, investors tend to panic and they easily dump their altcoin as they feel like they will be doom, soon. So this trend always happen that's why it was easily anticipated by others and save their selves. Bitcoin doesn't control the market yet still, altcoins depend on bitcoin's movement, whether we like it or not.

[wildey]

that's what really happened, because bitcoin has controlled the market. you can see in the exchange when bitcoin falls eating the altcoin will follow a deeper fall, can't you compare it?

that might happen because bitcoin is the most popular cryptocurrency currently available. well, instead of saying it controls prices, I think it's more suitable in influencing other altcoin prices. well, that becomes the benchmark for all the coins that are currently in bitcoin.

[smile1218]

I think Bitcoin is not controlling the market it is the investors who’s investing are the one who controls it. Once investors buy or sell coins the market moves.

[yesyes18]

Oh yeah! definitely so. the ideal thing here is that people measure the survival of crypto with Bitcoin. So when Bitcoin is mooning everyone thinks the whole of crypto wil go on well and so they cane in huge, and it's thebsame vice versa. Also, it's true that every coin has its market fluctuations but the deviation is always attached to the price movements of Bitcoins. Again, the dominance of Bitcoin tells everyone how trusted people are in BTC.

[FrancePG]

Most people believe that the price of altcoins' is determined by the price of bitcoin and that they tend to follow it's market movements.

I partially disagree with this. I have studied prices of coins and tokens on CMC and the fluctuations of each currency seems to be unique and independent of any other digital currency. Some show strong pumps when BTC goes down and some heavy dumps when BTC is rising.

Undoubtedly, there are market forces and factors which affects most currencies, this is not influenced by bitcoins price, it rather controls bitcoins' price as well as others.
So when trading or investing, make sure you treat each currency differently as they have different utilities.

The market itself controls itself, and makes any action in those moments when any coin, well proved to have grown in price, or Vice versa fell that will prevent the development of the market.

[Cryptomania843]

Bitcoin has a lot of influence on the cryptos market. He is the number one and the altcoins follow the trend. If the Bitcoin drops the altcoins will also drop. There will come a day when altcoins will free themselves from the influence of Bitcoin. Bitcoin will not remain the number one and altcoins will become independent.

[neo444]

Yes the price of bitcoin have many effect to other cryptocurrency price like ethereum and others so bitcoin control the market of  cryptocurrency