Are all altcoins dependent on Bitcoin?

[KingsDen]

I want to understand if all altcoins are built upon the foundation of BTC. This is because when there is severe crash of BTC, all other coins, I mean all, also crash.

Is there no independence in the cryptocurrency world?

Thank you!

[Jawhead999]

No, not all altcoins were made upon of BTC, only Bitcoin forks (e.g. BCH, BSV etc) are built upon BTC. But it's doesn't mean all Bitcoin forks will follow Bitcoin price because it's not pegged 1:1 just like Wrapped Bitcoin (Bitcoin in another chain).

Also not all altcoins are following Bitcoin price, it's because of the market condition whether they see Bitcoin pump they believe altcoins will follow to since the market is healthy and vice versa. USDT is the one coin that often do opposite with Bitcoin, because when Bitcoin dump people will sell their Bitcoin to USDT. This will make USDT price higher (a bit pump) since many people have high demand.

[akirasendo17]

I want to understand if all altcoins are built upon the foundation of BTC. This is because when there is severe crash of BTC, all other coins, I mean all, also crash.

Is there no independence in the cryptocurrency world?

Thank you!

no, it's just that if bitcoin goes down some people panic and sold their coins since they thought if bitcoin goes down, altcoins will follow, it depends on the project mostly go down because there are things that happen in their community like FUD, or they fail to deliver something which they have promised, and investors might think its a scam or maybe the project will not be popular, there are lots of things to consider.

[btcltcdigger]

I want to understand if all altcoins are built upon the foundation of BTC. This is because when there is severe crash of BTC, all other coins, I mean all, also crash.

Is there no independence in the cryptocurrency world?

Thank you!

Most altcoins have no real connection to BTC, except their pairing on exchanges.
When BTC starts dropping, people usually exit alts and try to buy BTC at lower prices, thus causing a cascade effect

[KaliLinux]

I want to understand if all altcoins are built upon the foundation of BTC. This is because when there is severe crash of BTC, all other coins, I mean all, also crash.

Is there no independence in the cryptocurrency world?

Thank you!

Most altcoins have no real connection to BTC, except their pairing on exchanges.
When BTC starts dropping, people usually exit alts and try to buy BTC at lower prices, thus causing a cascade effect

I hear what you are saying and kinda agree with you but why do the drop chats of all the ALTs almost the same as that of Bitcoin whether it is in an upward trend or downward trend? If you really take time to look at the chats during Bitcoin down trend and compare it with say, Ethereum, BNB and some other ALTs, it is almost 99% similar so I am thinking that same OPs question, why so much influence on other ALTs by Bitcoin whether positive or negative.

[cabron]

I have not see any altcoin that isnt dependent to BTC. Eth shouldn't be dependent but because there is a pair BTC/ETH it still becomes dependent. 

The ERC20 tokens are also dependent to ETH which every time the price goes up or down, ERC20 tokens also follow. The only that isnt dependent are the stablecoins. Not surprise. 😄

[zasad@]

Is there no independence in the cryptocurrency world?

This only tells the gnomes that the cryptocurrency market is very centralized. BTC Dominance: 40%
Therefore, it is enough to manipulate the bitcoin price and all coins and tokens will follow the bitcoin price.
The situation will change every year as cryptocurrency projects are more integrated into various economic relations.

[CryptoG99]

I want to understand if all altcoins are built upon the foundation of BTC. This is because when there is severe crash of BTC, all other coins, I mean all, also crash.

Is there no independence in the cryptocurrency world?

Thank you!

This is not true. ETH and ADA for example are their own blockchain technologies.
You also have BSC that is built on ETH for example.
You can trade tokens like FLUR on the BSC and you pay small fees on the BSC. Speaking of witch, FLUR is an interesting project that could see some serious gains. DYOR but I think everyone should take a look.

[lablab03]

Probably yes in my opinion coz as you can see after the criticism and the declined in bitcoin all crypto currency in the market become affected and now they are still down because bitcoin still struggling as well.  No one literally can say its not, since it alway happened every time when whales manipulated bitcoin value. I dont know if there's someone can tell and explain that it's impossible to happen especially on this situation right now..

[UKprod]

I want to understand if all altcoins are built upon the foundation of BTC. This is because when there is severe crash of BTC, all other coins, I mean all, also crash.

Is there no independence in the cryptocurrency world?

Thank you!

This is more of a market sentiment rather than the foundation being BTC. Say for example, MATIC (polygon) had crashed when BTC had crashed, but it recovered much faster than the recovery of the rest of the altcoin and bitcoin in itself.

Further, the cryptocurrency market is very immature i.e. minor comments and tweets from certain individuals can rock the cryptocurrency market up and down. However, once things stabilize and crypto market turns more mature, we could see each altcoin being independent from Bitcoin.

[DapanasFruit]

In many ways the answer is a big NO but in reality the answer is YES. And it is because Bitcoin and all alts are all belonging to one industry - cryptocurrency so no wonder that if there is a trending Bitcoin dip almost all alts can be affected though I am not saying that there will no exceptions to this rule from time to time as there can be some breakaways happening. I had been watching with the cryptocurrency market for years now (though am not an expert in any way) and I encountered this same situation many times already.

[LostEcho]

I don't care about what others are telling you right now, what I've noticed is once bitcoin starts rising most altcoins will revaluate as well and same thing will happen once BTC starts dumping, BTC is the first and it has the highest liquidity and volumes so it has the power to reshape crypto market valuation

[Mahdirakib]

Whole crypto market crash beside BTC while there is FUD regarding bitcoin. But it doesn't happen while we hear any bad news about any individual alts. Everything happens for the investor thought. Bitcoin is known as the king of crypto world, and investor has taken it as an idol of crypto market. That's the main reason behind it. Although we have seen different movement also. But you can't expect stability or upward move of altcoins when there is FUD/bad news about BTC.

[Jackl87]

I want to understand if all altcoins are built upon the foundation of BTC. This is because when there is severe crash of BTC, all other coins, I mean all, also crash.

Is there no independence in the cryptocurrency world?

Thank you!

If you mean if the code of all cryptocurrencies is based on the code of bitcoin then the answer is no. Litecoin is an example that is really based on bitcoin but made a few tweeks to the block time and the type of proof of work algorithm. Most other coins are either own coins with a own blockchain infrastructure or Tokens of the Ethereum Network or Waves Tokens or Tokens of any other Smart Contract platform.
The reason why the price of all cryptocurrencies is going down and up when bitcoin is going down and up is that bitcoins is still the biggest and most popular crypto project out there and a lot of people that are not into crypto think that crypto = bitcoin.

[devil2man]

unfortunately bitcoin is and remains the reference point for comparison of all altcoin markets / exchanges as a consequence of this fact bitcoin remains a driver of almost all the altcoins that follow its trail and its changes in value both towards the 'up and down, i personally hope that this situation can change and that the true value of altcoins can be given by their potential on the market and as applications in the various sectors where they are used

[Dexion]

No friends, maybe it happened because of bad news about bitcoin, then many people panic and sell their assets because they think bitcoin will go down, and think if there is a decline in BTC then altcoins will follow. In fact, altcoins can go down because of problems in their own environment, whether it's an inappropriate target, funding, or other things, as well as investors' assumption that the project will potentially be a scam. Many factors can influence it.

[Sterbens]

almost everyone said no, and I thought so I should wait for at least a simple and true argument as to why there should be a chain binding Altcoins when everything is almost said to be a result of the Bitcoin Correction.
The only thing I can understand right now is about the pairing of altcoins with bitcoins in some markets. but that reason is also not enough. because basically the altcoin market tradition follows Bitcoin price movements and can be seen when the Bitcoin price increase sometimes experienced by Altcoin is not fully up. people will focus on the price of Bitcoin. but when Bitcoin price drops, Altcoin will be affected.

I think if things continue like this in the future, it seems that Altcoins don't have the right ideal in the market for small traders who can't afford Bitcoin.

[vabchgent]

No, not all altcoins were made upon of BTC, only Bitcoin forks (e.g. BCH, BSV etc) are built upon BTC. But it's doesn't mean all Bitcoin forks will follow Bitcoin price because it's not pegged 1:1 just like Wrapped Bitcoin (Bitcoin in another chain).

Also not all altcoins are following Bitcoin price, it's because of the market condition whether they see Bitcoin pump they believe altcoins will follow to since the market is healthy and vice versa. USDT is the one coin that often do opposite with Bitcoin, because when Bitcoin dump people will sell their Bitcoin to USDT. This will make USDT price higher (a bit pump) since many people have high demand.

USDT is a stable coin. It has nothing to do with the question the OP asked. USDT is supposed to be equal to 1, no matter what...

I would say that indeed 100% of the coins are somehow dependent on Bitcoin. Usually under any circumstance, if Bitcoin crashes really hard 100% of the alt coins follow. It is extremely rare that an alt coin stays where it is or even makes gains when Bitcoin loses significantly, and thereby I mean double digit percentages in a day.

[Ozero]

I want to understand if all altcoins are built upon the foundation of BTC. This is because when there is severe crash of BTC, all other coins, I mean all, also crash.

Is there no independence in the cryptocurrency world?

Thank you!

Only some coins, such as Ethereum, Bth and others, have appeared on the basis of Bitcoin, such as Ethereum, Bth. All other cryptocurrency have the same blockchain technology, however, are practically relatively independent in this market. However, other cryptocurrencies depend on the price of Bitcoin and this is associated with a high level of its capitalization. The larger in a certain cryptocurracy investors invest money, the greater influence it is on the market, which means that it affects the formation of prices for other types of cryptocurrency.
Cryptocurrency is relatively developing relatively and is hardly the existing price dominance of Bitcoin will be saved in a remote perspective.

[tabas]

With the market connection, yes, majority of the altcoins are dependent to bitcoin. As you can see, when bitcoin has pumped, most of the altcoins pumped.
And when bitcoin drops significantly, the alts did the same.