Are all altcoins dependent on Bitcoin?

[tyz]

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!

Well, you can say 99% of alts go in the direction of Bitcoin. When Bitcoin falls, so do altcoins. When Bitcoins rise, Altcoins rise too. Sometimes there is a certain time difference between the relation, but in general this is the direction since cryptos emerge. Depending on the market phase, there are always individual coins that escape this trend, but these are very rare and usually short-lived.

[meves99]

We know that cryptocurrencies have their own independence, so there is no need to hesitate.

[KingsDen]

When BTC starts dropping, people usually exit alts and try to buy BTC at lower prices, thus causing a cascade effect

Wow! This is very interesting and logical. I believe this. If not the only reason, it is surely one of the reasons. But clarity is still needed here. If people exit altcoins when BTC is dip to get BTC, making altcoins dip too. Why do altcoins rise when BTC start rising again. I think the exited altcoins in certain time is supposed to remain in dip and not follow BTC immediately.

[wxa7115]

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!

There is almost no independence on the way altcoins move compared to what we see with bitcoin and the reason for this is that most of those coins are copies of the original, the developers of those coins try to make it seems as if their coins are completely different but this is not the case.

I think that if we actually took the time to analyze every coin at most you will find 20 or 30 coins that are sufficiently different from the code of bitcoin to call them original coins, the rest are forks of bitcoin or of those coins, which shows why when bitcoin goes down the whole market goes down as well.

[isaac_clarke22]

~

Still some tend to follow the price of Bitcoin when it dumps.
In my perspective if I would invest like through diversification, I would consider from BTC to alts and vice versa depending on the situation.

@OP There are forks as what was mentioned but it isn't all made from BTC.

[Fivestar4everMVP]

Well, the correct answer is no, no altcoin is built upon bitcoin or built to depend on bitcoin per say, but the reason the entire market crashes when ever bitcoin is crashing is because - :

• 1. Bitcoin currently has the most market dominance in the entire crypto currency market capitalization, for this reason, when ever bitcoin drops, the entire market capitalization of all crypto put together also drops which in turn affects other altcoins.
• 2. Most altcoins are also pegged to btc in tradings, and bitcoin having the higher value, when ever its price drops, it sure to affect the altcoin its trading against

Stable coins are independent on bitcoin and their prices are always stable, they are a good way to protect your coins value in terms of negative sentiments in the market like we are currently experiencing.

[rahmathidayat93]

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!

Independence will always exist if Bitcoin always grows, but if the leader of a coin like BTC experiences a decline, then the people will also experience hunger in the form of a decline, and this is considered very normal for some people in the cryptocurrency world.

[Maestro75]

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,

I think this is the part that can lead to what happens whenever Bitcoin dumps and altcoins follow immediately. And this is wrong. I do not know when investors will start to reason differently and act like Bitcoin does not matter that much any more. It is annoying to see altcoins looking well on buy change to sell once there is crash in Bitcoin. The earlier investors stop this, it will be better for everyone.

[Traderbtcc]

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!

Altcoins are not built on bitcoin's blockchain, they all have the blockchains they are built on, e.g Ethereum has its own blockchain and Binance Smart Chain has it's own too, just that the crypto market follows bitcoins price movement, its just like a blow to the leader is a blow to his followers, bitcoin is the first cryptocurrency and also the number one in terms of coin raking, so whenever bitcoin dumps everyone just panic dump whatever altcoins they are holding.

[Fredomago]

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.

Still relying wt Bitcoin, if not all it's most of the alts. You just mentioned it, once Bitcoin experienced bull run most are green when you look at the market place, but same with the market for Bitcoin is in bear season it's shows a lots of bloodbath around.

Bitcoin still dominating and if in case that there are different direction into any alts roject it's not the majority more on individual updates.

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

Alts that have real case value will soon experienced growth without relying with Bitcoin market, investors will realize the value and
start supporting the project, it will serve as jump start with more holders who are willing to support and hold.

[Twinkledoe]

Altcoins are not built on bitcoin's blockchain, they all have the blockchains they are built on, e.g Ethereum has its own blockchain and Binance Smart Chain has it's own too, just that the crypto market follows bitcoins price movement, its just like a blow to the leader is a blow to his followers, bitcoin is the first cryptocurrency and also the number one in terms of coin raking, so whenever bitcoin dumps everyone just panic dump whatever altcoins they are holding.

But not all alts are following bitcoin's price movement. There are some alts that can move opposite bitcoin's activity. You can see it in their market charts, if bitcoin is going red, some are still going green and vice versa. So that alone, can tell you that not all are dependent on bitcoin's price movement. But a lot are following its activity, most are top alts. And talking about this effect, you can't find a concrete pattern for this behavior, as it changes depending on the condition of the market.

[Princejebs]

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!

Altcoins will always be dependent on bitcoin because that's where institutional investors put money the most. Now tell me, if I were you, when you see the head of the park dieing, will you stand and look or find solutions to the rest. That's exactly how bitcoin and other coins works in crypto space.
Although, there are times you see some Altcoins making upside move even when the market is plummeting. Polygon was heavily pump the last time bitcoin and other Altcoins were going down. This may be due to fomo or updates.

[reza7777]

Not all coins bro, it's just that when bitcoin experiences price drop, everyone panics to sell and that's what causes other coins to seem to depend on bitcoin

[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.

Still relying wt Bitcoin, if not all it's most of the alts. You just mentioned it, once Bitcoin experienced bull run most are green when you look at the market place, but same with the market for Bitcoin is in bear season it's shows a lots of bloodbath around.

Bitcoin still dominating and if in case that there are different direction into any alts roject it's not the majority more on individual updates.

They have their own individual updates but still, this is a market. And the market is tied and bonded with its mother/king which is bitcoin.
The dependency of those related to market cannot be changed but their own progress relies on the developers.

[samcrypto]

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!

Cryptocurrency gives us the freedom that we want away from the government regulations and Bitcoin started it all, and it has been the center of cryptoworld since then and that's why every time Bitcoin down, most of the altcoins are also down because people are converting their tokens/coins into a more stable one so they can buy Bitcoin or any project on a cheaper price. We have to give respect to Bitcoin and seriously, this will be the trend forever as long as Bitcoin remains on top.

[Kopetunto]

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!

all altcoins follow the path of Bitcoin for now, yes, if you say there is no independence for altcoins of course that is wrong,
because many altcoins are already independent, the change from tokens to coins is what is called independence,
but indeed the price is still following bitcoin because altcoins have pairs in BTC

[Vaculin]

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!

It wasn't clear that they are all dependent on Bitcoin but somehow if we have noticed that once Bitcoin went down, the majority of altcoins just follow. It found this scenario as many investors leaving and selling their altcoins for the sake that they can catch Bitcoin at a lower price. It was them who make the market just tied up.  I'd never see any changes, this is actually how the market works and we have nothing to do with this.

[Tervelatuk]

of course all altcoin price movements will depend on bitcoin because bitcoin is the mother of all existing cryptocurrencies, when the bitcoin price goes up the altcoin price will also go up, when the bitcoin price goes down the altcoin price will also definitely go down, so bitcoin is the main mover of all existing cryptocurrency prices.

its true altcoin movement rellated with bitcoin direction.but its direction not 100% paralled with bitcoin. we have bitcoindominance rate here, and describe about bitcoin power in marke , it its rate down so altcoin direction will have different with bitcoin. more downside in btcd its good for altcoin. we have to understand about analisys.   

[Sled]

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.

Nothing has changed, this how the market works. The entire crypto market runs in the same path, when it pumps, everything just pumps as well aside from those shitcoins that have been dead so long.

Though we think that some altcoins are independent, still its momentum just follows on Bitcoin trend. This is not new and I think we need to accept this.

[Alert31]

Because of Bitcoin dominance, mostly altcoins also follow in bitcoins trend but I don't think that all altcoins are dependent in bitcoin. It's already in peoples mind that if bitcoin went down, altcoin will follow that's why they sell their altcoins on this situation. Also I think whales are also the reason behind altcoins trend that's why it always the same as bitcoin.