bitcoin affecting altcoins

[Richbased]

Overtime i see that whenever there is a dip in the price of bitcoin, other altcoins tends to follow suit by also dropping in their prices and whenever there is an increase in the price of bitcoin, other coin as well increase in their value. Does it mean that other altcoins cannot be dependent on their own? Like must the activities of bitcoin affect the alternate coins at all time? I really want to understand why alternate coins like BNB, ETH, TWT, MATIC,  XRP,  LTC, DOT, ADA, SOL AVAX and so many other alternate cryptocurrencies are always affected whenever there is a change in the price of bitcoin like can't they be dependent on there own? as they are all cryptocurrencies despite the fact that bitcoin is more volatile than the rest of the cryptocurrencies.

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[Gozie51]

My brother there are 101 reasons wey dey make anything wey happen for bitcoin dey affect altcoins and I no go fit exhaust am finish.

Apart from say bitcoin na the foremost cryptocurrency, bitcoin dey totally decentralized and that means there is unshakable trust in the coin and the community keeps rising. So you go hardly see someone wey get altcoins for him wallet wey no get btc but you fit see person wey get btc without altcoins. Those wey been get only altcoins because no increase in the price without bitcoin increase, they move to bitcoin.

Bitcoin dominance of cryptocurrency na around/above 51% while altcoins share the rest percentage, so imagine that.

Bitcoin Maximum supply na 21 million and can't be manipulated.

Bitcoin halving na bum as it reduces the reward for mining bitcoin every 4 years into half and that keeps demand high. The trust is high and it is decentralized, has larger community who hodls it more than altcoins.

[CryptopreneurBrainboss]

Overtime i see that whenever there is a dip in the price of bitcoin, other altcoins tends to follow suit by also dropping in their prices and whenever there is an increase in the price of bitcoin, other coin as well increase in their value. Does it mean that other altcoins cannot be dependent on their own?

Bitcoin na their master, why many peoples dey Invest into those altcoins na because dem believe the altcoins go fit blow like Bitcoin or atleast increase small as BTC been do so when Bitcoin wey be the oga come dey correct, others go begin fear and dem go dey take profits from the altcoins so dey no go lose and that one also dey contributions to why altcoins dey fall.

Also you need know say BTC pairs get most volume for the market as most altcoins are been traded against Bitcoin so as Bitcoin dey fall for price other altcoins go dey fall as well and this na why dem say make we no dey invest for altcoins with the mindset say we went diversify as e no go work because all the crypto makes dey go same direction majoring of the time. Bitcoin controls the market, the faith of the entire market is on Bitcoin so when Bitcoin dey do well every other coins go do well and the case na the same when Bitcoin no dey do well.

Most altcoins na just copy of each other so dem no fit do well on their own, dey depend on the success of Bitcoin and the original project to survive. For your list so, BNB, SOL, ADA all dey do the same thing wey be smart contract parole and people just dey Invest inside them because dem expect dem to get the same success wey their oga ETH dun get so when BTC correct and e affect ETH, other smart contract go take a hit too and you fit talk the same thing about other altcoins like of Dogecoin market gets affect other memecoin also gets affected. Some altcoins though dey go the opposite when market dey crash but dem no plenty.

[Su-asa]

My guy, plenty reason dey way make Bitcoin dey overcome the acceptance of altcoins or shitcoins for this world as a whole, 1, the reasons nah just because of say Bitcoin dey very much safer than other altcoins or shitcoins to invest into.
2, if you observe Wella you go witness say Bitcoin nah the most valuable coin for crypto and many pipo wants more of Bitcoin than altcoins or shitcoins because BTC dey more valuable than other crypto currencies.
People fit invest into Bitcoin with the use of DCA method and get rest of minds, with the help of the DCA strategy, even if BTC dey drop, no body way really Kno watin em dey do go ever reason to sell em coins because with the DCA method, 1 BTC nah still 1 BTC, hope say you try get my point?

[Makus]

Overtime i see that whenever there is a dip in the price of bitcoin, other altcoins tends to follow suit by also dropping in their prices and whenever there is an increase in the price of bitcoin, other coin as well increase in their value.

Just as baba cryptopreneurBrainboss don talk, bitcoin naim be their master and anything wey master naim boy go do oo, if the boy go go pass em master e mean say em don dey grow wings and 70% of the time the boy no dey fly dey go anywhere. Likewise crypto we no go fit get two masters for one place, so one must lead and the other go follow if not na so so problem go dey until dem settle that matter.

One of the greatest reason why altcoins price dey tend to follow Bitcoin price na because, most altcoins dem no go fit buy dem with fiat currency so before you go buy dem you gats first buy bitcoin den convert am to the altcoins and when you wan still sell am you go still convert am to bitcoin before you fit sell am, so e just be like say na Bitcoin dem dey take do every thing wey concern those altcoins, and for normal sense na Bitcoin price dem take dey measure the price of those altcoins no be even dollar.

[SmartGold01]

It seems you have not done your research correctly because even when Bitcoin seems to be dip in Price there are some alternative cryptocurrency that gain more price impact, that is to say whenever the price of bitcoin keeps decreasing these coin get waxed in price and they gain much popularity in the market and people keeps buying them, then whenever the bitcoin price is increasing these coin in questions also change in percentage and in price if you watch closely in coinmarkepcap today we have the top gainers & loosers.

Although there are other coin that are majorly affected as you said they are solely dependant of each other to scale up especially the reason they are mostly affected is that they are being paired on each other's for trading and lot of exchange already listed them so, when a trader noticed a rejection or declined in market or do I say a price decrease between this coin they have no option than to easily sells of their holding to usdt or any other stable coin to maintain their trading capital precisely for traders while those who are hodl don't get panicked over the sudden market changes they often tend to increase their portfolio when they noticed such changes in the market.

[Odohu]

Overtime i see that whenever there is a dip in the price of bitcoin, other altcoins tends to follow suit by also dropping in their prices and whenever there is an increase in the price of bitcoin, other coin as well increase in their value. Does it mean that other altcoins cannot be dependent on their own? Like must the activities of bitcoin affect the alternate coins at all time? I really want to understand why alternate coins like BNB, ETH, TWT, MATIC,  XRP,  LTC, DOT, ADA, SOL AVAX and so many other alternate cryptocurrencies are always affected whenever there is a change in the price of bitcoin like can't they be dependent on there own? as they are all cryptocurrencies despite the fact that bitcoin is more volatile than the rest of the cryptocurrencies.

You be omo Naija and there is a popular saying that you should "follow who know road". So we fit talk say other coins dey follow Bitcoin wey know road, e no supposed hard you to understand?

Even though say some of these coins fit dey gain when Bitcoin dey drop in price, such gains na usually because of hype wey no dey last. Memecoins sabi do that thing wella but many of them dey die as fast as them rise meaning say na busy body them dey do. If Bitcoin no support the move, no put body o, make you no enter one chance.

[Timmzzy]

Overtime i see that whenever there is a dip in the price of bitcoin, other altcoins tends to follow suit by also dropping in their prices and whenever there is an increase in the price of bitcoin, other coin as well increase in their value. Does it mean that other altcoins cannot be dependent on their own? Like must the activities of bitcoin affect the alternate coins at all time? I really want to understand why alternate coins like BNB, ETH, TWT, MATIC,  XRP,  LTC, DOT, ADA, SOL AVAX and so many other alternate cryptocurrencies are always affected whenever there is a change in the price of bitcoin like can't they be dependent on there own? as they are all cryptocurrencies despite the fact that bitcoin is more volatile than the rest of the cryptocurrencies.

This exact behaviour has been there for ages so its not a new thing to those who is in this atmosphere for a long time, bitcoin is not volatile as you think it is the only siade bitcoin wins is that it has volume than alts, looking around you will see alts that are volatile like crazy.

[Agbamoni]

OP for lay man understanding Bitcoin nah the original product why the rest nah the fake/aba made. Anytime wey the original version price increase or decrease e they affect every other fake product wey they the system. The faith of those alternative currencies depend on Bitcoin o. As Bitcoin start to they go up nah so the price of other currency start to they shake body too they go up.

Another thing wey I want make you understand again na say. The cryptography technology wey you they hear about nah Bitcoin first they use am before other ones come look how Bitcoin use integrate am. Them come learn am, change their name then direct am to one side of the economic system, like fashion, lifestyle, education, aviation, charity and so many others

[Perfectbaby]

As I know so far bitcoin naim be their grand father oo so anywhere him go all follow am like say tomorrow no dey, not that notwithstanding he is the influencer of altcoin in the market almost all coin directly oboys how it trends within the space and not much.

[Richbased]

It seems you have not done your research correctly because even when Bitcoin seems to be dip in Price there are some alternative cryptocurrency that gain more price impact, that is to say whenever the price of bitcoin keeps decreasing these coin get waxed in price and they gain much popularity in the market and people keeps buying them, then whenever the bitcoin price is increasing these coin in questions also change in percentage and in price if you watch closely in coinmarkepcap today we have the top gainers & loosers.

Yeah, I noticed that there are some coins that gains when bitcoin is dipping so does it mean that those coins always maintain their stand or as soon as bitcoin increases then those coin will start going down or it is that those coins are competing with bitcoin. It is understood that bitcoin is like the superior to every other cryptocurrencies so I wonder why when it's price is dipping then some other coin starts gaining during that interval of time.

[Pi-network314159]

My brother there are 101 reasons wey dey make anything wey happen for bitcoin dey affect altcoins and I no go fit exhaust am finish.

Apart from say bitcoin na the foremost cryptocurrency, bitcoin dey totally decentralized and that means there is unshakable trust in the coin and the community keeps rising. So you go hardly see someone wey get altcoins for him wallet wey no get btc but you fit see person wey get btc without altcoins. Those wey been get only altcoins because no increase in the price without bitcoin increase, they move to bitcoin.

Bitcoin dominance of cryptocurrency na around/above 51% while altcoins share the rest percentage, so imagine that.

Bitcoin Maximum supply na 21 million and can't be manipulated.

Bitcoin halving na bum as it reduces the reward for mining bitcoin every 4 years into half and that keeps demand high. The trust is high and it is decentralized, has larger community who hodls it more than altcoins.

No be say I dey ague you sir but just want to understand something clear. No doubt say bitcoin market dominance dey above%51 and e hold more than half of market dominance and every othe market depends on am but
I Been dey think say all altcoin dey under bitcoin blockchain naim make e dey affect the market just like for example:
Etherium and BNB dey under bitcoin blockchain
Etherium come get e own blockchain that is ERC, and e also get different coin under am like
Tether (USDT)
Wrapped bitcoin (Wbtc)
Uniswap (uni)
Polygon (matics) etc
While BNB also get in blockchain with BEP, wey get coin wey dey under in blockchain like'
Trust walletcoin (TWT)
Cake
Bake
BUSD
And others wey dey under bnb smart chain, and all these coin to me be like say them depends on each other.  I think if anything happens to bitcoin go affect etherium and BNB so automatically e don affect everybody for The blockchain. For me na the perfect explanation be this to me I no no wether wetting I dey think dey align with others because I wan get a fact. Wether market dominance and this explanation na two different things.

[Roseline492]

Overtime i see that whenever there is a dip in the price of bitcoin, other altcoins tends to follow suit by also dropping in their prices and whenever there is an increase in the price of bitcoin, other coin as well increase in their value.

Of course the growth of altcoins is dependent of the survival of Bitcoin and even the reason why most people go for some other altcoins investment is because they believe that so long as Bitcoin continues to progress there would be every chances of many other altcoins also increasing on there prices.

That's why if you check very closely during the early time of this year Bitcoin price dip you will see that almost every other altcoins also follows Bitcoin dip and now as the price is peaking they are also coming up a bit by bit, so actually Bitcoin is the father of all cryotocurrency  and doesn't depend on other coin to grow.

[Zanab247]

Overtime i see that whenever there is a dip in the price of bitcoin, other altcoins tends to follow suit by also dropping in their prices and whenever there is an increase in the price of bitcoin, other coin as well increase in their value. Does it mean that other altcoins cannot be dependent on their own? Like must the activities of bitcoin affect the alternate coins at all time? I really want to understand why alternate coins like BNB, ETH, TWT, MATIC,  XRP,  LTC, DOT, ADA, SOL AVAX and so many other alternate cryptocurrencies are always affected whenever there is a change in the price of bitcoin like can't they be dependent on there own? as they are all cryptocurrencies despite the fact that bitcoin is more volatile than the rest of the cryptocurrencies.

BTC still remain the king among other cryptocurrencies, whenever you see the price of BTC changing some level in the market by increasing show, that other altcoins price will start increasing too to give their customers hope that they are about to enter bull run which is the best period Many customers want to experience from the market. You can see that the price of BTC has dump back to $35k few hours ago, and other altcoins price too has dump to allow those that missed their opportunity to buy when the price was low to buy now because, the bear market is still on ground to buy and hold.

You can see that after BTC, Ethereum is in the second position among other altcoins but if you want to add other altcoins to your investment try to add Ethereum and XRP because, the two altcoins are very good for investors to make a good profits.

[Franctoshi]

How Bitcoin dey take effect altcoin price movement be say, when people buy Bitcoin the price go start to dey rise first, then at some point, some traders and short term investors, or people that long Bitcoin via Futures go start to dey take profit out of the market and some of those profit, dem go start to dey use am buy altcoin dem while e go make altcoin go start to dey increase while Bitcoin will now enter the point of ranging or start to consolidate because those profit taking and some late buyers wey enter the market, Then either the price goes for a further move upwards or it reverses downwards and altcoin go follow suit.

[Jegileman]

I don notice dis thing too but sometime I dey see say some coins dey rise by themselves without the influence of bitcoin and some dey still fall by themselves without the influence of bitcoin. But when bitcoin moves up, all of them go follow and when e come down, dem go still follow am. Wetin I notice for all dis things be say, all those altcoins na people dey manipulate them that’s why them dey move in their on sometimes without the action of bitcoin while if bitcoin move up or down dem go still follow move too.

[Kelward]

Overtime i see that whenever there is a dip in the price of bitcoin, other altcoins tends to follow suit by also dropping in their prices and whenever there is an increase in the price of bitcoin, other coin as well increase in their value. Does it mean that other altcoins cannot be dependent on their own? Like must the activities of bitcoin affect the alternate coins at all time? I really want to understand why alternate coins like BNB, ETH, TWT, MATIC,  XRP,  LTC, DOT, ADA, SOL AVAX and so many other alternate cryptocurrencies are always affected whenever there is a change in the price of bitcoin like can't they be dependent on there own? as they are all cryptocurrencies despite the fact that bitcoin is more volatile than the rest of the cryptocurrencies.

Bitcoin na di pacesetter for the whole cryptocurrency, and im still maintain that leadership role reach today. Na bitcoin get di blueprint of wetin crypto coins suppose be, and altcoins no get choice but to de copy the standard wey bitcoin don set.

I might be wrong but I never hear about altcoins halving before, or say weda altcoins get di limit of minting of new coins like bitcoin. All dis things na im make bitcoin take de for im own level, and I no think say altcoins get anything to add for innovation of cryptocurrency, bitcoin creator don think and add everything finish.

Na bitcoin get ATH and bull run, and altcoins de capitalize on dis  opportunity, to get more investors, because as people de cash in on bitcoin bull run, dem go de also look for other  crypto coins to invest and make profit too, just like for bitcoin. Also for bitcoin bearish run, if investors de panic sale dem bitcoin, na so dem go lose faith for altcoins and follow sale am too.

[Nwada001]

With everything way other people don talk I believe say u go don gather mother enough reason to know why the price of other coins they sabi drop if Bitcoin price they drop although no be all they drop but majority of them they follow bitcoin price, nah why we need to they careful for the kind of altcoin way we dy buy cuz no be all of them they survive after bitcoin price drop well well.

Most people know about many other crypto currencies from bitcoin, and many of those altcoins are being paired with bitcoin on exchanges, so when the price of bitcoin drops, it will affect those that are paired with the currency, and for other altcoins, when the price of bitcoin starts dropping, those who hold altcoins start panicking as a result of them not knowing what will happen next, wondering if the price of the giant can be shaken and what more will happen to the ones below.

[Baki202]

As I know so far bitcoin naim be their grand father oo so anywhere him go all follow am like say tomorrow no dey, not that notwithstanding he is the influencer of altcoin in the market almost all coin directly oboys how it trends within the space and not much.

my brother you get point everything get beginning and the beginning of cryptocurrency na him be bitcoin and others just be copy of bitcoin na were they get all this altcoin from be that, from bitcoin na why you go see say anything for market na bitcoin people they always talk about and na him people trust, if you look this thing now people never accept bitcoin finish na altcoin people go come accept just like that, so na anything wey bitcoin bring them go accept na just like a father given instruction to a child on what direction to go, na so the matter be my brother.

[Antotena]

Overtime i see that whenever there is a dip in the price of bitcoin, other altcoins tends to follow suit by also dropping in their prices and whenever there is an increase in the price of bitcoin, other coin as well increase in their value. Does it mean that other altcoins cannot be dependent on their own? Like must the activities of bitcoin affect the alternate coins at all time? I really want to understand why alternate coins like BNB, ETH, TWT, MATIC,  XRP,  LTC, DOT, ADA, SOL AVAX and so many other alternate cryptocurrencies are always affected whenever there is a change in the price of bitcoin like can't they be dependent on there own? as they are all cryptocurrencies despite the fact that bitcoin is more volatile than the rest of the cryptocurrencies.

Any coin you see today are inspired by bitcoin, they didn't come own their own, they are all link to bitcoin. Even the ones that you see that they are layer 1 and 2 to scale ethereum chain will still give credit to the original author the bitcoin and that's when they want to give good credit, they must bow to bitcoin and hence when there is a little fall in bitcoin, they crashed like mad just like the principle of gears and gearing.

Altcoins doesn't have good resistance to stand on their own, but I am not sure if you observe the market very well. There use to be a time when altcoins will be pumping and bitcoin will be stable and even if there is decline in price, it's usually in small amount. This is when altcoins have a good moment, look at Solana and Avac for example had a good run of their money from few news they posted some days ago and year, profits were everywhere but observe very well when bitcoin was dump, they dumped heavily because lots of people are very cautious of their investment.