Are all altcoins dependent on Bitcoin?

[Maslate]

I believe it was been clear how altcoins interact with Bitcoin. Not to say that they are all dependent on Bitcoin but most likely it was what we can see since before. Without Bitcoin, I don't know what will happen to the market.
This means that Bitcoin has a huge influence on the entire crypto market and whatever it happens to Bitcoin, the same goes to altcoins as well.

[Sithara007]

It is a very contradictory scenario. On one hand, the altcoins need Bitcoin to survive. And on the other hand, Bitcoin becomes weaker when altcoins increase in value. One of the reasons for the recent correction was the overpricing among the altcoins. But in the end the correction had a bigger impact on Bitcoin, when compared to the alts. Even the most overpriced altcoins such as Dogecoin and XRP seems to have stabilized, while Bitcoin is showing a lot of weakness in terms of major parameters. 

[manggis97]

Its not all the times price action of altcoins depend on Bitcoin. Actually depend on the trend of market, sometimes price of all altcoin triggered by Bitcoin, but in another time, both was move opposite. I have seen when BTC dominance reached 70% , BTC was bullish but altcoin dumped. But that happened in many times is alltcoin depends on BTC, price action of all crypto almost the same, like many whales trade using trading bots.

[Traderbtcc]

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.

I was going to add that, but I'm glad you pointed that out, have also noticed that a few altcoins do pump when bitcoin dumps, like when bitcoin dumped from $50k+ to $30k matic was busy pumping hard, I was really surprised honestly, I think maybe there was a good news from matic team, but the pump didn't last for long it dumped back to below a dollar, some altcoins do go against bitcoin price movement at times, but eventually they still end up getting dumped afterwards.

[el kaka22]

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?

Well, it is a bit of a different situation and the answer is not that simple. The "price" is not really correlated exactly, but the emotions are, which means if bitcoin is going down that means there is a reason for bitcoin going down, the simplest reason is the fact that people are selling their bitcoins and that is why it is going down but what is the exact reason for people to sell? If you find that reason you will see that usually that same reason would apply to altcoins as well.

Now they are not one to one tied and usually when one goes down more, the other goes down less, because whatever that reason is usually impacts one more while impacts the other less. You can see bitcoin going down 10% but bnb going down 50%, or reverse bitcoin going down 50% while bnb going down 10%, that is exactly because of that reason. Long story short we are not going to see anything change differently, one goes up and other goes down because the emotions are usually the same for the market.

[J1mb0]

Not all altcoins are built on top of bitcoin, a lot of altcoins have their own distinct foundation and it's even better than Bitcoin.
Coins crash when bitcoin crashes simply because its price revolves around bitcoin.

[MCDev]

Only a handful of coins have been spawned from the Bitcoin fork, and it's not many. The majority of cryptocurrencies today are born on the basis of ETH or BNB.
When bitcoin price drops people often panic and sell their coins, there are many coins traded based on btc so when BTC drops in price other coins also go down.

[chikading2016]

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!

I think not all coins in crypto market depends on bitcoin some coins are stable even if bitcoin drops massively.Maybe people who are holding altcoins dump thier altcoins because they are afraid that the price of thier holdings also drop same as bitcoin. The only reason that altcoins dropping during bear market is the people who are not holding strong and choose o dump thier coin because they are afraid of lossing.

[indo1]

For now it seems like it's true, because bitcoin is already like the mecca of all existing altcoins. When he dumps, then it's a sign of a whole altcoin, but when he's stable between regular prices, you can take advantage there, because the current movement of bitcoin, down and sideway, so continues for some time.

[aprilnot]

actually it is not correct to call it dependent, but more to be affected by bitcoin. when bitcoin crashes, people's confidence level for hodl will decrease and as a result they prefer to sell to prevent bigger losses. altcoins are always impacted indirectly, but there are cases when bitcoin crashes some altcoins go up. This proves that actually altcoins are independent of bitcoin.

[Psynthax]

Not really, it's just market phschology in general since most of altcoins are paired against bitcoin so when it crashes people also getting afraid of bitcoin making their coin looks less valuable but some of altcoins also not really dependant on bitcoin but mostly are shitcoins that usually stray away from following bitcoin market price movement.
but seriously though, you should consider seeing your asset more in btc value than in dollar value of you truly believe in crypto future since it means you're seeking for future profit rather than despairing at the current bearish,

[trauchot]

Well, in general, most likely it is, because already many years I have been following the cryptocurrency market and the movement of the entire cryptocurrency market, and when bitcoin starts to fall or rise in price, then altcoins also begin to repeat the same movements of bitcoin, but sometimes it happens that altcoins by themselves grow or fall in price and vice versa, the same happens with bitcoin, therefore, altcoins do not copy bitcoin's movements at one hundred percent, but in most cases, of course, altcoins follow bitcoin movements.

[tyz]

It is a very contradictory scenario. On one hand, the altcoins need Bitcoin to survive.

I would say this is a bold theory. No altcoin actually need Bitcoin to survive. It's just that at the moment Bitcoin is the main trading currency to most altcoins and therefore serves as an intermediary tool. You could also say Bitcoin is the USD of the crypto world. But just as in the non-crypto world, where the influence of the Dollar is diminishing, the influence of Bitcoin on the crypto world is becoming more and more limited.

[ilovealtcoins]

Most altcoins are dependent on the movement of Bitcoin. You can see the market moving with Bitcoin in the past days when Bitcoin continuously dropped in price and today when Bitcoin bounced to $35k, altcoins have gradually recovered.
Some altcoins move because of the news and teams that manipulate the value so they chart differently than Bitcoin. Most of them move with Bitcoin as a whole.

[Reid]

It should not be.
I don't know why the hell they are also being dumped after bitcoin is crushed.

It's like whales have every portion in every altcoin that whenever they dump bitcoin they also dump other coins.
Or, could it be a domino effect from fear of other investors with different altcoins, something like that.
But to be precise, there should not be a connection with either one. Every coin should be a stand alone market.

[Ararbermas]

It's impossible to happen but has a possiblity to influence all the cyrpto currency in the market in my opinion, especially in such issue wherein a bunch of holder always going crazy to dump. Indeed when market bitcoin fluctuate those crypto below make a reactions as well in the market.. But this time for sure the reason why most of the crypto currency is affected it's because maybe those whales dump as well in the market after elon's and tesla through bitcoin .. And they're all correct because as you see until now people in the market still panicking because of another fluctuation..

[globalpain]

actually it is not correct to call it dependent, but more to be affected by bitcoin. when bitcoin crashes, people's confidence level for hodl will decrease and as a result they prefer to sell to prevent bigger losses. altcoins are always impacted indirectly, but there are cases when bitcoin crashes some altcoins go up. This proves that actually altcoins are independent of bitcoin.

Much better I think when bitcoin goes down we just stay patient and hold it in,
because in my opinion, sooner or later bitcoin will definitely come back but it's back to each other's decisions,
basically not all altcoins depend on bitcoin we have to know about it

[Cling18]

No, there are lots of potential altcoins that aren't depending on Bitcoin but we can't deny the fact that every event of Bitcoin situation could affect the prices of altcoins. Bitcoin as the father of all cryptocurrencies is too influential that it could also change the whole market situation. Other altcoins could survive alone yet Bitcoin could always affect them in different ways.

[shushu9977]

we know, bitcoin is first crypto-currency in the crypto world and from the beginning, it will the toppest coin always. so maximum coins are follow the bitcoin. But, there are few stable coins which are always hold their position such as Tether, trueusd, usd coin, binanceusd etc.

[Davian144]

actually it is not correct to call it dependent, but more to be affected by bitcoin. when bitcoin crashes, people's confidence level for hodl will decrease and as a result they prefer to sell to prevent bigger losses. altcoins are always impacted indirectly, but there are cases when bitcoin crashes some altcoins go up. This proves that actually altcoins are independent of bitcoin.

Some Altcoins that go up when Bitcoin crashes are stablecoins and coins that are not in the popular category, because all popular Altcoins always follow the Bitcoin market trend and you can prove it when Bitcoin is up and also when Bitcoin is down, all of them will always follow the Bitcoin rally except what I said earlier. So in general almost all Altcoins always depend on Bitcoin.