Is the price of ethereum dependent on bitcoin?

[Lucky100]

there are so many coins that depend on bitcoin, and I think one of them is ethereum, because we know for ourselves that bitcoin is a coin that determines many cryptocurrency.

 Although Ethereum uses other technology, it depends on Bitcoin as the other tokens. probably, in several years the situation will change. ETH will become more independent.

[Cryptoz]

Unfortunately, I think yes. Ethereum price still depends on the Bitcoin price. I see there is a big correlation between the prices of Ethereum and Bitcoin. Currently, when Bitcoin price can rise significantly, then the Ethereum price follows to rise. But when it dropped, ETH price also declined for a while.

[Somyt]

yes I think ethereum is also good and also the price depends on the increase in the price of bitcoin. , because now the growth of fluctuations in bitcoin prices is also good, I think the price of ethereum will also follow the price movements of bitcoin, because bitcoin is also the front coin

[Octoalts]

Maybe this is true, because it often happens like that.  I often see Ethereum price movements often coincide with Bitcoin prices, When the price of Bitcoin rises will be followed by the increase in the price of Ethereum.  Not only Ethereum, but also other Altcoin prices.  And this I think is not unusual, because Bitcoin is the parent of the Cryptocurrency currency.  And every change in the price of Bitcoin will always be followed by the price of Altcoin, including this Ethereum.

[Kitme]

Bitcoin is the god of the cryptomarket so every bitcoin move is affected all altcoins include the ethereum although this time ethereum price is slowly increasing but the ethereum price is dependent on Bitcoin .

[Seerge]

Bitcoin is the parent of Cryptocurrency, and Bitcoin has a big influence on other coins.  Also included Ethereum, Ethereum will go up if the price of Bitcoin rises, and Ethereum will also fall if the price of Bitcoin falls.

[mimikri]

there are so many coins that depend on bitcoin, and I think one of them is ethereum, because we know for ourselves that bitcoin is a coin that determines many cryptocurrency.

Although Ethereum uses other technology, it depends on Bitcoin as the other tokens. probably, in several years the situation will change. ETH will become more independent.

 It must happen, sooner or later. Nevertheless, until Bitcoin remains the most trusted cryptocurrency and choice #1 of the investors, it will always affect Ethereum and its price.

[densuj]

Most people have the mindset that the price of ethereum rises with bitcoin and vice versa. How true is this?

Yes mostly people have the mindset that the price of ethereum depends on the price of bitcoin at least i have two reasons about it, first reason bitcoin is the leader of cryptocurrencies so the movement of price of cryptocurrencies always follow the price of bitcoin based on my experience and the second reason ethereum is biggest decentralize application dapps platform and it has made the ethereum to be queen of cryptocurrencies and bitcoin is the king of cryptocurrencies, so the queen always follow the king in the price and in the development.

[Gravatai]

there are so many coins that depend on bitcoin, and I think one of them is ethereum, because we know for ourselves that bitcoin is a coin that determines many cryptocurrency.

Although Ethereum uses other technology, it depends on Bitcoin as the other tokens. probably, in several years the situation will change. ETH will become more independent.

It must happen, sooner or later. Nevertheless, until Bitcoin remains the most trusted cryptocurrency and choice #1 of the investors, it will always affect Ethereum and its price.

Another thing to consider is that everyone judges the crypto market based on the price of Bitcoin. If its price goes up, then everyone understands that the crypto market comes to life and the prices of other coins are rising. Moreover, Bitcoin has a dominance above 50% in the crypto market, so it affects most coins, including Ethereum.

[Noverteno]

Of course, the price of ethereum directly depends on the price of bitcoin. This is due to the fact that Bitcoin has a very high level of capitalization, which exceeds the capitalization of all cryptocurrencies combined. Only when Bitcoin loses such a high level of capitalization, only then will the cryptocurrency gain relative price freedom.

[Blue4]

The whole cryptomarket is dependent on bitcoin price so bitcoin price is affected all coins price level include the ethereum price but this year ethereum price is affected too deeply compared with old ethereum market currently ethereum price is too low .

[Kitme]

Yes still the whole cryptomarket price is dependent on bitcoin price although this year several times ethereum acted difference we can understand it if look ethereum price now.  compared with 2017 ethereum market this is too low price although ethereum following Bitcoin price.

[Uina]

There are many factors affecting the price of ETH and yes one of them is the price of Bitcoin. I think it has been proven already that when BTC rises, the price of altcoins rises too. So with BTC is on the stable price of 7k to 8k now, one thing that affects the altcoins will be internal news in my opinion.

[tervel]

Ethereum’s price  is mostly predicated on that of Bitcoin, as the leading cryptocurrency determines in which direction the entire market will head. Indeed, if BTC is higher, so do altcoins; the opposite is also true.

[naitik01]

The price of both ethereum and bitcoin varies. But it is often seen that when the value of bitcoin increases, the value of ethereum also increases. And when the value of bitcoin falls, the value of ethereum also falls.