Does bitcoin control the market?

[coffigayo]

Yes, in my opinion, many things affect the market and that makes many people feel that Bitcoin controls the market. At present the market is red and declining, when Bitcoin decreases and many lower altcoin prices are possible.

[axxo]

Indirectly bitcoin controls the market. But i believe that the people who manage to do investing are the ones who controls it because they know when to sell or to hold their investments.

[eann014]

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.

for now it is possible that bitcoin is controlling the development of the crypto market because in my opinion bitcoin is a pioneer of crypto currency and of course bitcoin can be said to be a guide to the development of other cryptocurrencies

I agree if it is not because of bitcoin, I think other cryptocurrencies is also nothing right now. That is also why a lot of coins now are dropping its price because bitcoin is also not at a good price now, I mean, it is not like before, it drops too hard and that is also why some other coins are also dropping but as of now it has a stable amount of value and I think it is enough but not good for short investments.

[trauchot]

Quite right, the whole market depends from bitcoin, I was already convinced of this many times, because in 99 cases out of 100 when bitcoin go down then all other alts also go down, and when bitcoin grows then everything is in the other way around, all the alts grows. I do not know until the end how this system works, but the fact remains, because bitcoin is the founder of everything.

[brotherwood12]

for most of altcoin , i think yes , if bitcoin price drop , most of that all drop also , and if bitcoin up that altcoin will drop , the altcoin will rise up if bitcoin was stable

[sublime5447]

No coin affects the crypto currency market, except bitcoin.

This is the main coin, which can either send the market up or down.

It is necessary to increase the community of investors in bitcoin, which would remove the manipulation of the market

Every cryptocurrency affects the market according to their population in market. In all cryptocurrency bitcoin affects the market mostly. Its volatile nature is the main reason behind this. Bitcoin market price is high and it also accepted by many country. When one government ban bitcoin trading, investing, marketing in their country then the negative effect show in its price. Like bitcoin other cryptocurrency like Ethereum, Ripple litecoin etc also influences economy market.

And usually some large countries will affect the price of bitcoin if there are many large ICOs in the country. Even if a large country with a large ICO bans the ICO, it will have an impact to the bitcoin’s price. Altcoin’s price basically follows the price of bitcoin and bitcoin also requires altcoins to help increase the price.

[EEEian]

yeah you are right , but sometimes trades though that this is a manipulations coming from the whales in order to control the price of bitcoin and gain more from their usual income.and i think this will be a very helpful for all knowing that this is a legitimate occurrence in the market

[Sandus_Cryptolover]

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.

For the fact that altcoins are mostly traded in bitcoin does not mean that they are affected by whatever happen to Bitcoin. Each altcoins have their market which influenced by demand, supply and some other factors as well. Thus altcoins are not controlled by the price of Bitcoin

[yazher]

Bitcoin function as a mother board of all the coins, As if it sound then all of its components are doing fine. If you don't believe me go check the market right now. you will see what i mean.. GreenDay is real.

[Johnyz]

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.

Yeah, investors control the market especially whales. Bitcoin is the top coins but it can’t control the market alone, but bitcoin can influence other coins by following its trend. The market is being move by the supply and demand and whales creates such news to move the price of bitcoin.

[ratatat bangbang]

We cannot say that bitcoin is controlled because of the situation now. The biggest reason that affects bitcoin are the number of investors who cashing out their money.

[DPrillio]

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.

Yeah, investors control the market especially whales. Bitcoin is the top coins but it can’t control the market alone, but bitcoin can influence other coins by following its trend. The market is being move by the supply and demand and whales creates such news to move the price of bitcoin.

Yes, I observed that bitcoin is the main actor in crypto market that all coin are dependent on it, it almost make me believe for the fact that even all ICO was somehow postpone and hold because of the unfair bitcoin value therefore I can say that bitcoin really and truely controls the market.

[Gozmoc]

There's every possibility for bitcoin controlling the market and also 90 percentage of altcoins depends on bitcoin, as most people exchange their alts for btc.

[kamilah147]

There's every possibility for bitcoin controlling the market and also 90 percentage of altcoins depends on bitcoin, as most people exchange their alts for btc.

As far as I know bitcoin can't control the market. because every market is moving, and cannot be controlled. moreover the market is currently still up and down and there is no clarity.

[killerfrost]

I think bitcoin is having a huge impact on the money market. Bitcoins are high compared to the rest of the coin. Many investors are choosing bitcoin for long term development. When bitcoin increases or decreases it will cause the price of other coins to follow. Bitcoin is the strongest coin.

[Vickyrichy]

The crypto market is controlled by so many factors. People believe that bitcoin controls the market because of its market cap and volume but the truth is that, bitcoin controls the market partially. The market is basically controlled by people with most number of a particular altcoin. They determine the market price of that coin.

[budrabut]

Bitcoin doesn't control the market of Altcoins, but the price of bitcoin influences the market price. All coins in the market have their own price which is not determined by by other, because those all are created with own foundation and method that different. However, all price probably adopt bitcoin.

[bloodyvio]

bitcoin controls the market = NO
altcoin depends on bitcoin = YES
because no one can control the market
maybe some people can manipulate prices but no one can control the market

[The_Dark_Knight]

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.

When people say that bitcoin controls this market they do not say it literally, it's obvious that each coin is going to move in its own way because of their different characteristics, we see this all the time, when all the market is crashing and a few coins are going up in value because recently there was a good news coming from the developers of those coins and the sentiment is positive.

[LieTOme]

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.

what you say in your opinion is very true bitcoin I think is not completely in control of the market but bitcoin might be a guide to other cryptocurrencies because bitcoin might be a pioneer of cryptocurrency