Does bitcoin control the market?

[Verde_Mantis]

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.

In my opinion yes, bitcoin does control the market because it's the strongest coin out there, the whole cryptocurrency market goes around what bitcoin does, at the moment this is how it works.

[OSEIBOATENG]

To me I will say Yes because looking at the markets, whenever BTC rises all other altcoins too rises on the market and I think this might be because BTC was the first coin also its pair with those coins on the exchanges.

[aryaadikariyansyahsuwarto]

yes maybe the exchange activity does affect the price of bitcoin, but it does not fully affect. I think the most influential for bitcoin is investors. if investors buy a lot of bitcoin, then maybe prices will increase, but if investors sell a lot, then the price of bitcoin will drop dramatically ..

[ljane]

The market in one way or the other to me is controlled by BTC and thats how I see it. This is because whenever there is a small increase in BTC we can clearly see that some altcoins also try to increase in their price which makes me think that BTC controls the market. 

[CrazeCoinz]

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.

Yes, many people are still, in confusion who is controlling the market but one thing i can every coin price completely depends on the price of Bitcoin only. As you can see when the value of Bitcoin is kept changing automatically the price of all other coins changing. So in this case, the Bitcoin price is controlling the market.

because most of the altcoins prices are computed in the bitcoin price and we can easily see a dumps of alcoins price once the bitcoin price started to fall but a pumps in any alcoin will not affect the bitcoin price. Indeed, if the price of bitcoin will hit again at the all time high then we can expect a rise of the alcoins prices.

[Otsu]

Bitcoin does not really the one who controls the crypto market but rather just one of the factors that can affect the price of the cryptocurrencies. Because if we really look at the CoinMarketCap, there are some crypto coins who have a good flow even if the price of bitcoin drops.

[Adelia15]

So far, the cryptocurrency market has become an aspect of the financial market or the real economy. Everyone knows the crypto market thanks to the bitcoin, and the rise of the btc up and down affects the market. More Bitcoin futures appear on Wall Street, and many see this as an important step in turning the hottest coin into a major asset and opening up the way for investors. Participating in the digital money market.

[Ahimoth]

As much as most coins especially from the first 100 on CMC tend to follow Bitcoin trend, coins from the second 100 and lower often show different manners and can grow very much even in bear market.

There's possibility that Bitcoin can control the market because everytime the Bitcoin price increase Altcoin follow it, so it do the same when its goes down. Bitcoin have partial control but not totally because the one the have huge control of the market are the investors who have holding a big share of cryptocurrency especially Bitcoin. So I think Bitcoin will never be replace by any crypto because it has a lot changing we might encounter if there's a coin beat it.

[ophyrim]

Of course, at the moment the dominance of the bitcoin is more than 51%. BTC is the biggest actor in this market. The price action of all altcoins is depended on BTC. BTC is not directly controlling the market of course, but effect directly the market.

[twostepsally]

I think. It not. Market is controller the all project business. So market place is choose the price up and down. People check the market price. Then people will be invest. It changes the price any time. People will be check the price day by day then invest. So market price is important of the all country business.

[burky155]

Yes ofcourse it controls the market. Look at the market cap, look at the dominance.. It is falled down like %3 from last  2 months but it is still %52 dominance for the Bitcoin. If something bad happens to the bitcoin, i think all the markets falls and that big crush would erase everything. So bitcoin is the something else that the all altcoins..

[Goodnuel]

Yes, for now, you could say that bitcoin controls at least 50% of the whole cryptocurrency market.. Being the first and most popular coin makes it a more trust worthy one and all other coins are highly dependent on the bitcoin progress.

[mulyadi dedii]

Basically, the decline or increase in altcoin prices is influenced by market demand and availability. but I think bitcoin contributes to giving a little influence on the price of altcoins on the exchange market at certain times.

[#dhabitamartha]

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 also think that if bitcoin is weakens, why should a lot of coins follow it? Others should not have to follow the bitcoin movement, resulting in a weak bitcoin market that is not as good as other coins not following the market so that the market will be crowded and passionate.

[Udrujec]

I still hold the opinion that other cryptocurrencies depend on bitcoin. Yes, there is no obvious connection, but bitcoin is the main currency, and if it falls, then it affects altcoins to some extent.

[sinta23]

Of course, at the moment the dominance of the bitcoin is more than 51%. BTC is the biggest actor in this market. The price action of all altcoins is depended on BTC. BTC is not directly controlling the market of course, but effect directly the market.

we must know that half the role of bitcoin does indeed control the market. because the market is one of the sources that can manage bitcoin to go up and down. so we don't need to be surprised if the market situation and bitcoin are both up and down.

[kolbalish]

Yes, Bitcoin is controlling the digital market where all are directly or indirectly depends on Bitcoin. Bitcoin is the world's first crypto currency. There are many currency now and all re made after Bitcoin and also by following this. If Bitcoin price pump then other currencies also pump automatically.

[42K]

Bitcoin is one of the coins that controls the market because its being used by people for both trading and exchanges on the markets. I think it controls the market because whenever there is an increase in the price of BTC altcoins too tend to increase in price.

[Bonsaiav]

Each crypto coin has a different market and community. We will be able to see it when one community buys coins which they like, of course there will be an increase in demand and a price increase in coins which they buy, and this will not affect any other coins including bitcoin as the first crypto.

[zwiggel]

I think bitcoin is controlling the market. Bitcoin is having a big impact on the rest of the coin. When the bitcoin price increases it will be accompanied by other coin increments. When bitcoin decreases, it will cause the market to plummet.