Why is it that altcoins are been influenced by bitcoin price movement?

[Bobcrypto]

For some months and even years now, i have observed that each time there is a fall or rise in the price of bitcoin many altcoins follow this trend. Besides other factors like the demand and supply, media influence etc, i think that the most common factors that influence or that affects most altcoins ,if not all altcoins, is the Bitcoin upward or downward price movement or fluctuations. Share your thoughts. Thanks

[Zed0X]

Yeah, it's been like that for many years now. I am not really sure as to why it keeps happening. Probably the mentality is to be able to possibly accumulate more BTC. Convert alts to btc fast enough and sell to USD and then buy back when BTC falls further.

[luvr1000]

because this is one of the very first coins and it is worth a lot, there are no such examples so far, only the etherium

[therozaq]

For some months and even years now, i have observed that each time there is a fall or rise in the price of bitcoin many altcoins follow this trend. Besides other factors like the demand and supply, media influence etc, i think that the most common factors that influence or that affects most altcoins ,if not all altcoins, is the Bitcoin upward or downward price movement or fluctuations. Share your thoughts. Thanks

Because Bitcoin is the first of crypto currency. The vaue of bitcoin will affect the price of all altcoins. Bitcoin is the King.

[purpleseven]

Yes all altcoin is still affected from the bitcoin value. if the bitcoin decreases then altcoin will mengukutinya. the problem in the market is how to make the bitcoin price stable.

[aji678]

Maybe in a few months it is like that, but we can not predict the decrease or increase in the price of altcoin and bitcoin will always be the same. I'm sure altcoin will undergo several different changes in months as well as an increase in the number of tokens or coins and their use. So the altcoin price does not follow the bitcoin price movement.

[Agnitayo2]

yeah i also noticed, that the movement of the value of altcoins follows the price of bitcoin. maybe the reason is that there is reallly something in bitcoin that is required to determine the value of altcoins.

[mag_aso]

Maybe in a few months it is like that, but we can not predict the decrease or increase in the price of altcoin and bitcoin will always be the same. I'm sure altcoin will undergo several different changes in months as well as an increase in the number of tokens or coins and their use. So the altcoin price does not follow the bitcoin price movement.

Well thats correct that altcoins are been influenced by bitcoin price movement thats because they related to each other as we all know that altcoin is altternative to bitcoin.

[sugarchrisp]

Because people fear of missing out when bitcoin rises, and fear when bitcoin drops.  People get completely out of bitcoin when it drops, and that panic affects alts as well.  The price dropping makes people lose confidence in crypto in general, thus more money leaves because they can't handle the pressure.   When bitcoin rises, people want to get in on that rise so they move into Bitcoin instead to get those gains.  Alts generally pay out better short term, so I don't really understand why more people don't take alt positions, but I'd still attribute it to fear overall.  People really don't want to miss that train, so they get on whatever one is moving.

[damsix]

Just like the price of Gold which is always followed by silver and copper.
Bitcoin is always followed by the price of all altcoins.

If the price of Bitcoin goes up, the Altcoins will rise and if it goes down then all Altcoins will drop in price.

[TERENCIO]

Bitcoin being the anchor and use Bitcoin as the reserve currency. When BTC drops alts will follow.

[owmivmen]

Bitcoin plays a big role in terms of the increase and decrease in altcoin prices. I don't understand why everyone believes in bitcoin more. bitcoin is an old coin while there are still many altcoins that have good technology rather than bitcoin.

[zenbook]

The simple reason is that bitcoin market capitalization drives the whole market. Bitcoin market cap alone is about 40% or more of the total altcoin market. So what do you think when the king is going down, others will go down with it.

[tamango]

Normally then BITCOIN or even Ethereum will have a big down most of coins will follow..that's true in >90% of times with BITCOIN because it still is the king and has a market percentage very high compared to all other coins/tokens.

[Puncak_pelangi]

it is true that prices are heavily influenced by public news, and the price of altcoins is also influenced by bitcoin, and the good news I think can affect the increase in the price of coins.