Are all altcoins dependent on Bitcoin?

[dimox]

depend on what people think about it. sometime, they will say that the price will up or down because bitcoin bla bla bla. the point ia they are different, people will believe more on bitcoin than altcoin. converting alt to bitcoin is good for most people.

[Woodie]

In a way you can say altcoins need btc to survive in terms of if bitcoin is bullish it more likely that all coins will ride this wave and become bullish too but the opposite hardly happens were altcoins get bullish bitcoin might not get to ride this wave and by the way when an altcoin is bullish it usually happens only on that coin and not all other coins.

[labenea]

Bitcoin is the first digital currency created by satoshi, all exchanges make bitcoin the standard price so that the bitcoin effect is too strong for now, this is what makes the price of altcoins dependent on bitcoin performance. Bitcoin price increase has affected the current market situation to be green.

[Ulvajaya]

You mean freedom not to be tied to the price of BTC, right?
If that's the case, it's a bit difficult to penetrate because there hasn't been a coin that can free itself from the price of BTC Because until now the price of BTC is still number 1 in the cryptocurrency world, and has never been defeated by other altcoins and number 2 is still held by Ethereum

[Pelana vreo]

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!

you can see when Bitcoin was created and when altcoin was created, I don't have a list of the above, but you can search in google for their informastion.
Altcoins always follow the price of Bitcoin because the market capitalization of Bitcoin is bigger than altcoins, you can see it on various sites such as cmc and coinecko, when altcoins are at the top / not following the price of BTC? probably after other altcoins have a bigger marketcap than BTC, but it's hard to see that, because many Hodlers don't sell all their Bitcoin holdings like on this list https://btc.com/stats/rich-list

[Minecache]

Actually, when bitcoin goes down people are in fear and they also attempt to sell other altcoin too, cause they believe in bitcoin most but don't believe enough altcoin. people do panic selling that's why all crypto market goes down in a sudden after btc dump. that's why you will see when bitcoin goes down 1x, another alts are goes down 10x fold, all of this are happened for panic selling.

[bitcoin-shark]

unfortunately it is true about 90% of altcoins are dependent on bitcoin for value so every change in its value they follows its trail, its trend i hope that in the future this thing can change and the altcoins can have a value given by their potential , as the market is today is too easily manipulated

[Rakeshten]

This is because of people. When they see BTC going down they sell their altcoins in panic so all altcoins dump with BTC. Similarly, when they see BTC going up they think that now we can get profit so they start buying altcoins. The full market depends on people's decisions.

[BayAngelo]

currently, i will say that crypto price movement depends on bitcoin. i strongly believed that the more bitcoin dominance reduces and the total marketcap keeps increasing. time will come when altcoins will be totally independent from bitcoin and their price movement will be determinant by their activities separately not by their trading pairs.

[Kayum10029]

Looking at the cryptocurrency market it is obvious that all other coins are bitcoin dependent. When the market for bitcoin goes up, the price of all other coins goes up. If the bitcoin market collapses again In the coins There is a big change in the price.

[tiffcrz]

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, not all cryptos are dependent on Bitcoin. Most of the coins are independent. What you see and feel is mostly a byproduct of panic sell. But if you are looking for safe and long term investment, I recommend you stick on the well-established altcoins and has been around in the business for several years already to be less affected by the price of Bitcoin. Very good examples are ETH, LTC, XRP, ADA - my portfolio is packed with these coins. I am also keeping a fair amount of Stakenet's XSN in my bag. An underrated hidden gem which I believe will going to pump real big in the coming months.

[ninabobo]

Well we have always seen bitcoin dominating the crypto market, and also leading the way for altcoins, but some coins in the crypto market are independent and pump at it's own time even when bitcoin is in a dip, but let's all bear in mind that if a big crash occurs in bitcoin then surely all others coins are going down as well, because bitcoin got the highest level of trust and people believe the fact that if bitcoin is going down then all others coins are doing same as well. Recently I can say the bitcoin dominance isn't that strong as before because we can see some altcoins pumping higher than bitcoin.

[anti-dot]

Actually, when bitcoin goes down people are in fear and they also attempt to sell other altcoin too, cause they believe in bitcoin most but don't believe enough altcoin. people do panic selling that's why all crypto market goes down in a sudden after btc dump. that's why you will see when bitcoin goes down 1x, another alts are goes down 10x fold, all of this are happened for panic selling.

One reason might be that whenever the market goes down, Bitcoin also represents the exit currency when they want to sell, thereby also putting pressure on the price. Bitcoin is also the best indicator we have when the whole market gets into trouble. It would usually hit Bitcoin first. By now there are USDT pairs but who knows what is going to happen when one day there is some kind of bank run on USDT because Bitcoin dumps hard. Nobody knows what the reserves look like for USDT and whether they could serve all customers in a quick fashion.
So generally I would say that yes most of the coins are dependent on Bitcoin, maybe not entirely but to a significant degree.

[speedforce]

Looking at the cryptocurrency market it is obvious that all other coins are bitcoin dependent. When the market for bitcoin goes up, the price of all other coins goes up. If the bitcoin market collapses again In the coins There is a big change in the price.

I agree, but its a chance that this thing will be changed in the future it Bitcoin lost of the domination in the crypto market.
I think its possible since many altcoin rightnow have great position in the market with their own investor that believe on the fundamentals of the altcoin.

[CaVO32]

Well we have always seen bitcoin dominating the crypto market, and also leading the way for altcoins, but some coins in the crypto market are independent and pump at it's own time even when bitcoin is in a dip, but let's all bear in mind that if a big crash occurs in bitcoin then surely all others coins are going down as well, because bitcoin got the highest level of trust and people believe the fact that if bitcoin is going down then all others coins are doing same as well. Recently I can say the bitcoin dominance isn't that strong as before because we can see some altcoins pumping higher than bitcoin.

This is true, some alts have their own world in this market. Especially those pump and dump coins, which we really need to avoid at all cost. This is why some are independent on btc market, because it depends on the team managing it. And sadly, most of them will exit in no time. But bitcoin will still remain, so it is better to stick with btc rather than unfamiliar alts running their own scheme.

[anti-dot]

Looking at the cryptocurrency market it is obvious that all other coins are bitcoin dependent. When the market for bitcoin goes up, the price of all other coins goes up. If the bitcoin market collapses again In the coins There is a big change in the price.

I agree, but its a chance that this thing will be changed in the future it Bitcoin lost of the domination in the crypto market.
I think its possible since many altcoin rightnow have great position in the market with their own investor that believe on the fundamentals of the altcoin.

I severely doubt that Bitcoin will ever lose its dominance in the market. The only little realistic chance I see is for Ethereum to ever become bigger than Bitcoin, but even that I doubt. The dominance might decline, that is quite possible, but that has nothing to do with Bitcoin becoming bigger, but rather with the number of coins joining the market and also catching a share of the total money invested. We are already at more than 10000 coins and Bitcoin is still doing very well, which is a strong sign.

[amihada]

everyone knows the price of bitcoin has an impact on the price of other alcoins, for example the price of bitcoin goes up, the price of other alcoins also goes up and vice versa, for me bitcoin is the king of other alcoins so it is appropriate that alcoins follow the king's price.

[ranaprime]

In the crypto market BTC or bitcoin is the king. Accept bitcoin all are altcoins. If look at the market when btc price increase or stable then altcoins are rising and when btc price decrease or make correction then altcoins goes down. If bitcoin price get down 5% then altcoins get down 10% more basically total crypto market depend on bitcoin.

[CLS63]

Actually, yeah. All of the altcoins in the market are depending on Bitcoin's movements most of the time. Because as you know, Bitcoin has the biggest dominance in the market which is around 44% these days. This means whenever Bitcoin price changes positively or negatively, altcoin prices will also change in the same way. It is not a special thing for Bitcoin. For example, if the top cryptocurrency was Ethereum and Bitcoin was an altcoin, then it would be the same for Ethereum. Dominance is a really important factor because of that.

[llecrf]

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 works organically, when the price of Bitcoin increases the price of altcoins goes up and this cycle works without anyone controlling it.
Bitcoin demand and marketcup affect everything, such as the BTC/ETH pair and many others, altcoin prices are likely to rise as happened to YFI coin in 2020, when the price surpasses BTC, it happens because the hype from the DeFi platform has started at that time