Are all altcoins dependent on Bitcoin?

[xmonkeyx]

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!

not all, there are some altcoins that move because of the influence made by their own team which has an impact on high demand or vice versa, but many altcoins that follow the BTC trend are also influenced by buyer demand in the market which also attracts investment in altcoins if something happens decrease in BTC.

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[sapnu]

If you can see the pattern or the movement of the price of altcoins with relation to bitcoin, you can see that both usually moves in parallel wherein as bitcoin rises, the altcoin rises as well. That may be the case but not all altcoins depends on bitcoins bull run or bear market. There are instances where the success of bitcoin is made because of the influence it made and the success it reached over the years. Mostly they are helped by bitcoin that's why they made it to where they are right now but other times they made it there because of the owner of the currency or the team's perseverance.

[iTradeChips]

Well in my understanding is that not all the time Bitcoin can affect the prices of altcoins. Depending on the trend of the market at the time, there are occasions that the altcoin price can be affected and triggered by the price changes happening in Bitcoin. If you noticed there were trends before that Bitcoin continuously goes up for a few weeks while the alts stay were they were meaning no sudden spike in the alt coins. Now that bitcoin is correcting you see altcoins and some of them are going up even if Bitcoin's price decreases.

[Codecode]

So why almost all crypto follow trends with a BTC when it falls?

[apa don]

not all, there are some altcoins that move because of the influence made by their own team which has an impact on high demand or vice versa, but many altcoins that follow the BTC trend are also influenced by buyer demand in the market which also attracts investment in altcoins if something happens decrease in BTC.

Yes, but what was seen in yesterday's market correction it was very clear that because Bitcoin experienced a very large decline, and at this time Cardano Altcoin was still experiencing an increase but it did not last long because on the next day Cardano also experienced a decline.

[BRABO2]

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.

Yes,you are right. I am agree with your post. All altcoins Don't depend on bitcoin. 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.So,The bitcoin is not the only thing for depending all altcoins.

[7788bitcoin]

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.

One thing we can very well say that the alt market followed the Bitcoin path and everyone wants to make money and initially it was all about fun coins and majority expecting that it could help them make money but the way the market is moving, everything follows Bitcoin valuation and the market moves along with it and when there is a correction in Bitcoin the entire market falls along with it.

[Vishnu.Reang]

Yeah right, even the project tried to pushed for more but if Bitcoin continue to experienced downfall most of the time alts will follow and also experienced the declined,

Investors are working on every opportunities but if they've seen that the main asset are not performing very well they need to hold on and pause for a while.

Cardano is the best third generation altcoin, in terms of technology. And that justifies it's position as the 5th largest cryptocurrency and the market cap of >$50 billion. But in terms of acceptability, Cardano is lagging behind some of the smaller altcoins such as Litecoin and Bitcoin Cash. Despite the advanced features, the developers haven't succeeded in making this coin very user friendly. They need to learn from coins such as Litecoin, which are really user friendly. We need to remember that less tech savvy users also need to use cryptocurrency.

[LUCKMCFLY]

Absolutely all altcoins if they depend on Bitcoin, the reason is simple, if BTC did not exist, there would be no such market capitalization because most people know Bitcoin.

The alts do not have a life of their own, when BTC falls all altcoins fall, those that rise is because the famous "PUMP" and "DUMP" are applied to them, in the altcoin seasons they occur because BTC is in an uptrend, therefore, at that time all altcoins are in an uptrend.When BTC falls and begins to recover, the ALTS often remains stagnant, it is normal, because investors put their money in BTC not to lose the movement, and after confirmation of the uptrend of BTC is had, then the Investors wait for the first correction and then put their money in the ALTS, in this way the market moves, but absolutely all the atls depend on BTC.

[Kasabus]

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.

One thing we can very well say that the alt market followed the Bitcoin path and everyone wants to make money and initially it was all about fun coins and majority expecting that it could help them make money but the way the market is moving, everything follows Bitcoin yvaluation and the market moves along with it and when there is a correction in Bitcoin the entire market fallalong with it.

  Bitcoin may create huge impact to the crypto market but in the real sense, not all altcoins are fully dependent on bitcoin. Stable coins have their own path not likely follow the path of bitcoin.

But once bitcoin's value starts to fall, most of the altcoins are experiencing price decline too. The whole market seems to fall apart even when some stable coins still manage to increase their price and survived in the bearish market.

[Ziskinberg]

Well in my understanding is that not all the time Bitcoin can affect the prices of altcoins. Depending on the trend of the market at the time, there are occasions that the altcoin price can be affected and triggered by the price changes happening in Bitcoin. If you noticed there were trends before that Bitcoin continuously goes up for a few weeks while the alts stay were they were meaning no sudden spike in the alt coins. Now that bitcoin is correcting you see altcoins and some of them are going up even if Bitcoin's price decreases.

I agree with that but can't deny that it takes some time for the market to develop, investors are not investing yet in altcoins during that time that is why they are left behind for a few weeks before it finally surges. But for now, investors are making spread their money, Bitcoin and altcoins had the same momentum, Bitcoin dumps and Altcoins are following, the same thing when it pumps. I think this gonna be natural and we can't hide that thing as altcoins are dependent on Bitcoin.

[Cherylstar86]

Most coins on my personal opinion really depends on how bitcoin behaves for its market. One reason is the exchange pair of each asset, that's why price really matters when price goes up and down.
So many traders hope for the best for bitcoin, in order for the domino effect which will carry out the value of every altcoins price.

[huiji2011]

If we just talk about the price, especially when the price of BTC drops, my answer is yes. I don't need to repeat this. Just look at the recent market situation, as soon as the price of BTC drops, all the altcoins also dive. BTC is the cornerstone of the cryptocurrency market, all altcoins are dependent on BTC.

[Crypto Fireside]

Originally Bitcoin brought people in so to speak.
Think of it like a shopping centre, theres that one huge well known, well branded money making giant chain of a store, it brings people in, but while there, they will have lunch, go to a discount store, window shop, maybe try on a pair of jeans etc.
This is how it was with Bitcoin, but I don't think it is that way anymore. You could zap Bitcoin right now, Ethereum would take its place and the world would go on.

[Dread Pirate Roberts]

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 from the first crypto market exist is every altcoin is paired with bitcoin. so it all depends on bitcoin price movements. even though right know most of the exchange they also  paired coin with a stable coin such as usdt, the main price will still be paired with bitcoin.
all altcoin depends on bitcoin. because that's the main thing. unless the coin is really useful for something else. like eth even though it is very useful for other projects the price still depends on bitcoin.

[barbara44]

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.

That basically shows that all the tokens are still living under the shadow of Bitcoin. There has never been an altcoin that can retain its value when the price for Bitcoins is falling hard. I seriously doubt the altcoin market can survive without their boss bitcoin.

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.

I don't think we can bring stable coins in this discussion because most of the stable coins are backed by fiat and hence they aren't decentralized so their price is controlled by the owners. Secondly, stable coins don't even jump when the whole crypto market is going huge. One thing to note is that stable coins have no market once the altcoins/bitcoins market is gone. No one would buy a USDT unless they have a pair to trade.

[Jawhead999]

-snip-

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...

USDT is an example there's a coin that not dependent on Bitcoin, even though USDT equal to $1 it doesn't mean the price 100% always $1, you should check in Coinmarketcap USDT hit ATH $1.21 and the lowest $0.89

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.

Wrong.
Not 100% coins will follow Bitcoin, are you never check other cryptocurrency price and compare with Bitcoin?
Open Coinmarketcap right now, even though Bitcoin is pumping +8% there's many altcoins is dump -8% (e.g. Theta fuel, Internet Computer etc)

Tl;dr Most altcoins will follow Bitcoin, but not all.

[jaberwock]

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.

There are coins that are BTC forks like Bitcoin Cash but most of the tokens are built either on Eth or have their own independent blockchain. The reason why all the coins drop in value when Bitcoin falls might be because it reflects the current condition of the crypto market as a whole. Also when Bitcoin drops some traders stop buying almost any coins while there are traders who want to take no further risks and sell their coins.

Secondly, every coin has its pairs in BTC and if BTC is dropping they are designated to drop too. If a coin was trading for 100 satoshi in the BTC pair and suddenly BTC drops, that would also cause the coin to drop because ultimately the pair will remain at 100 satoshis but the USD value dropped. The thing that concerns me a bit is why coins didn't rise when the BTC was pumping hard earlier this year.

[dexter141]

 I think yes, all altcoins depend on bitcoin, when bitcoin falls, the whole altcoin market also falls in price. This can be observed even now.

[Ekyfitri]

I think yes, all altcoins depend on bitcoin, when bitcoin falls, the whole altcoin market also falls in price. This can be observed even now.

it all also depends on the growth trend shown by the market.
if you look at what happened in 2018 and 2020. then you can see how BTC is growing on its own with very strong market dominance adoption.
Altcoins can't do anything. they waited for BTC to stabilize but it didn't get it.
all controls are in the market. and the community also determines how the altcoins will follow the BTC trend or create their own trend.