Values of Bitcoin & Altcoin are correlated

[jostorres]

It is definitely correlated but we should also realize that they are not parallel at all times. Look at bitcoin and altcoins right now, they are moving opposite directions as of right now, they were moving opposite directions in reverse during first bitcoin increase, and they were moving together for a week, so as you can see it did all kinds of every possible path in just 10 days or so.

I can't say how they move but the hype is together that is for sure, when people are hyped about crypto they are hyped about them all and that causes coins to move around like crazy. We gotta figure out this volatility thing, I am not against it but sometimes it moves so quickly towards one direction that we may not be able to act as quickly, even with many features on exchanges nowadays we still would want to see it live while it happens and we could be too late sometimes.

[amonymous]

It is definitely correlated because when btc price goes to down then altcoins market go up. I would say altcoins pump market not connected on btc pumping time because you can realize now there are more altcoins price still dumping. Somehow top few altcoins price already touch green light but not all altcoins.

[Kasabus]

Altcoin prices increases as much as bitcoin price does, don't know where you are looking at the prices but if you look at coinmarketcap right now, you can see that bitcoin increased 17% in the last week while ethereum had 12% and xrp had 46%!! and link had 14% and ltc had 32% so as you can see some higher and some lower but almost all altcoins went up.

This is why I think they are definitely similar, sure there were few days when bitcoin went up and altcoins didn't went up so people assumed that they were moving opposite directions but that was just few days and in reality bitcoin price and altcoin prices move together.

I also believe that altcoins and bitcoin are somehow correlated because when bitcoin price is in a surge, top altcoins are also following the same path although some low potential altcoins stay on low prices. Altcoins are greatly affected on how bitcoin moves in the market and since bitcoin today is heading to its bull run even if a normal price correction occurs, there are high chances that the next big thing will happen is the altcoins bull run. This is the reason why most of the investors today prefer to collect more altcoins so they can be very profitable once altcoins season is here.

[Arkann]

It is definitely correlated because when btc price goes to down then altcoins market go up. I would say altcoins pump market not connected on btc pumping time because you can realize now there are more altcoins price still dumping. Somehow top few altcoins price already touch green light but not all altcoins.

To be honest, I have not seen such a situation for a long time when Bitcoin falls in price, and altcoin rises in price. Perhaps some cryptocurrencies, regardless of market conditions, have shown good results, as happened at the peak of the popularity of DeFi projects. But basically, the cryptocurrency market picks up when Bitcoin rallies.

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[dunfida]

Altcoin prices increases as much as bitcoin price does, don't know where you are looking at the prices but if you look at coinmarketcap right now, you can see that bitcoin increased 17% in the last week while ethereum had 12% and xrp had 46%!! and link had 14% and ltc had 32% so as you can see some higher and some lower but almost all altcoins went up.

This is why I think they are definitely similar, sure there were few days when bitcoin went up and altcoins didn't went up so people assumed that they were moving opposite directions but that was just few days and in reality bitcoin price and altcoin prices move together.

I also believe that altcoins and bitcoin are somehow correlated because when bitcoin price is in a surge, top altcoins are also following the same path although some low potential altcoins stay on low prices. Altcoins are greatly affected on how bitcoin moves in the market and since bitcoin today is heading to its bull run even if a normal price correction occurs, there are high chances that the next big thing will happen is the altcoins bull run. This is the reason why most of the investors today prefer to collect more altcoins so they can be very profitable once altcoins season is here.

Not a preference but would really be worth to consider as an option if you do really look for more further possible profit making opportunities.Yes, lots of people might discourage about
investing on alts but there were people whom do stick out with this and do really makes out money specially to those who bought when it is still on deep reds.The market had showed us
that the price isnt really correlated from time to time because there are scenario where bitcoin is the only one who had been rising and the rest is moving sideways or even on dropping
down but as mentioned where most of top altcoins do really being dragged off with the trend and this is why these coins is always been on the top of the list for those investors
who are fan on putting up some risk on altcoins.

[Samurai trieng]

I think the value of BTC and altcoins are correlated, because in every case that occurs in the market they always go hand in hand, the most flashlight example in 2020, when BTC is up, other altcoins have also increased, and in 2019 when BTC  goes down altcoins are also sluggish, here we can see they have the same path, so my conclusion is that the value of BTC and altcoins is very closely related to each other ,,,,

[hulla]

It is definitely correlated because when btc price goes to down then altcoins market go up. I would say altcoins pump market not connected on btc pumping time because you can realize now there are more altcoins price still dumping. Somehow top few altcoins price already touch green light but not all altcoins.

To be honest, I have not seen such a situation for a long time when Bitcoin falls in price, and altcoin rises in price. Perhaps some cryptocurrencies, regardless of market conditions, have shown good results, as happened at the peak of the popularity of DeFi projects. But basically, the cryptocurrency market picks up when Bitcoin rallies.

So far, if the Bitcoin price is dumped, the altcoins will follow suit,
did you see the market last week? when the Bitcoin dump price is below $ 17k and the altcoin price has dumped 20% more,
it is highly correlated, therefore before you buy altcoins, make sure the Bitcoin price is in good standing,
and currently Bitcoin is sideways, the right time to buy Altcoins.

Altcoin and Bitcoin market correlate but not in every situation and even when they both correlated some altcoins will be left behind. Arkann, Bitcoin is the King of cryptocurrency market but that doesn't mean there is no season where Bitcoin market will fall in price while altcoin market will experience rally.

[ololajulo]

Frequent rise of this topic is as a result of the trend in the bear, new traders seem not to understand how it could change for Altcoin to pump after bitcoin pump. Most of the altcoins maximalist I know are now sole bitcoin maximalist due to their size of fund in bitcoin and I can say they made most of this bitcoin from altseason. Not all altcoins will pump in the altseason and this market will different for altcoin due its bigger size in this market. We like to believe retail investors will put fund altcoins but I like to believe the market cycle has an influence that control the trend irrespective of sentiment

[bittick]

In the past, altcoins have always followed the price of bitcoin and its stability has until now, but this year is quite different, the difference in bitcoin price leaves altcoins behind, this is beyond the predictions of many people, even coins like ethereum are now far from the price of bitcoin. a little worried because the upward movement of altcoins is so slow.

This time it has being a long period else generally when the bitcoin starts to rise altcoins do follow quickly. But it seems mostly people are buying bitcoin or not much demand existing in altcoins due to which the price is not following the bitcoin rise. But it will eventually happen, and the rise will be very quick as its already being long await for altcoins now to follow bitcoin rise.

What is happening in the cryptocurrency market today, I consider a more balanced process than it was in 2017. Of course, Bitcoin's performance indicates that investors prefer bitcoin over altcoin uncertainty and the only thing that is still unclear today is the near-term prospects for Ethereum, which are very vague due to debugging 2.0. But once we have already seen almost the same ratio of Bitcoin and Ethereum in the cryptocurrency market.

Investors were joining due to the more big investors especially from the institutional investors have come to the bitcoin. They were buying huge amounts of bitcoin.
The big investors are putting their eyes into the bitcoin. Some big companies from US have invested hundreds of million dollars for bitcoin.
That brings FOMO

[sammyp]

the correlation is actually there, and I sense a positive correlation for that matter. Although there are times (such as this current season) where the correlation is not very strong but besides that we feel good because we know once bitcoin is positive the altcoins will also in due time show some positive trend.