Does bitcoin control the market?

[bdsharminsoltana]

Most people believe that the price of altcoins' is determined by the price of bitcoin and that they tend to follow it's market movements.

I partially disagree with this. I have studied prices of coins and tokens on CMC and the fluctuations of each currency seems to be unique and independent of any other digital currency. Some show strong pumps when BTC goes down and some heavy dumps when BTC is rising.

Undoubtedly, there are market forces and factors which affects most currencies, this is not influenced by bitcoins price, it rather controls bitcoins' price as well as others.
So when trading or investing, make sure you treat each currency differently as they have different utilities.

[smile.ps]

Well, it seems to me that now everything is tied to Bitcoin.  It all depends on a lot of money pouring into it.  After all, if you withdraw money and pour it into Altcoins, then, accordingly, the price of those or other altcoins will increase.  It all depends on the transfusion of money.

[expander]

In my view, bitcoin cannot control the market. Because market conditions are based on demand and supply. But we cannot lie that bitcoin affects the value of other coins because bitcoin is the first coin that has many communities. If confidence in bitcoin increases, trust in other coins will also increase.

[mamun777]

I have notice that too every time that bitcoin fall all altcoin also will follow. Thats why i just wondering can bitcoin control crypto. But there are some times that altcoin didnt follow bitcoin. Just like what happen in febuary bitcoin is slowly fall while altcoin is still pumping. Thats the proof that altcoin is not control by bitcoin. I think its depend on the market of each altcoin.

[yousufatik20]

Although bitcoin is the market leader, it doesn't exactly control the market. The market is in fact controlled by the big whales who have majority of supply of bitcoin and other coins.
That is what makes people hesitant about entering this market. If the whales weren't so greedy, we might have seen more people entering the market.

[kamal420]

Bitcoin doesn't control the market, but the crypto market depends on bitcoin moves. That's why when bitcoin price goes down, other coins follow bitcoin moves and go down! Bitcoin price moves happen for various reasons! Actually, no one controls the crypto market!

[bdamenaakter]

Of course yes. Bitcoin is the pioneering currency in the virtual currency market, being the largest denomination in the market. So it affects the Altcoins as a matter of course, which may be less influential or influential. The evidence that prices are independent of each other may be true, as Altcoins are located in different trading floors, but when converted to cash, it will affect each other.

[yousufatik]

Most people believe that the price of altcoins' is determined by the price of bitcoin and that they tend to follow it's market movements.

I partially disagree with this. I have studied prices of coins and tokens on CMC and the fluctuations of each currency seems to be unique and independent of any other digital currency. Some show strong pumps when BTC goes down and some heavy dumps when BTC is rising.

Undoubtedly, there are market forces and factors which affects most currencies, this is not influenced by bitcoins price, it rather controls bitcoins' price as well as others.
So when trading or investing, make sure you treat each currency differently as they have different utilities.

Maybe in some instance, the prices of altcoins may be dependent on either Ethereum or Bitcoin because it was intended to be set into a value equal to those. So when the price sinks or rises, the price value also do. In some instance on the other hand, the uniqueness of the price came as a reaction of the buyers and sellers of the set value based on the movement of Bitcoin or Ethereum to purchase a distint token in the market so both perception are correct depending upon how you interpret it manually. It is just a technicality on comparing different cryptocurrencies.

[ipanks]

Some of the altcoins depend on bitcoin price, and some other altcoin is not. I don't know which exactly coins that following bitcoin, but I guess it will show when bitcoin price moves. But I think all of the altcoins following where bitcoin wants to go, and it will change with the bitcoin moves. And sometimes, when bitcoin is up, the altcoins follow to go up.

[D_sally]

In general, it is logical to assume such a situation when Bitcoin starts to grow, and in this case, all the coins begin to fall because investors very often begin to withdraw all of altcoins and invest in Bitcoin!  But even despite such a course of events, I still would not say that Bitcoin controls the market!