Does bitcoin control the market?

[franch]

Bitcoin price dominates other types of cryptocurrency. This is clearly seen in the example of the past in 2018, when from the beginning of the year Bitcoin began to lose its price from $ 20,000, until it dropped to almost $ 5,000. At the same time, almost the entire cryptocurrency also synchronously fell in price along with Bitcoin. It is believed that such an opportunity appeared in Bitcoin due to its high level of capitalization.

[lepbagong]

Bitcoin price dominates other types of cryptocurrency. This is clearly seen in the example of the past in 2018, when from the beginning of the year Bitcoin began to lose its price from $ 20,000, until it dropped to almost $ 5,000. At the same time, almost the entire cryptocurrency also synchronously fell in price along with Bitcoin. It is believed that such an opportunity appeared in Bitcoin due to its high level of capitalization.

It is natural that all altcoins will follow the movements that occur with bitcoin because bitcoin is the main market in crypto trading, so it is certain that all will be connected to bitcoin. so if bitcoin goes up and down everything will also be affected and no one can evade that.

[ayatoslaw]

It is believed that such an opportunity appeared in Bitcoin due to its high level of capitalization.

I think it's not because bitcoin has a high market cap, but because all altcoins use bitcoin as their trading pair, if bitcoin is removed from trading pairs I'm sure altcoin price won't follow bitcoin price movements.

[Blaze]

It is believed that such an opportunity appeared in Bitcoin due to its high level of capitalization.

I think it's not because bitcoin has a high market cap, but because all altcoins use bitcoin as their trading pair, if bitcoin is removed from trading pairs I'm sure altcoin price won't follow bitcoin price movements.

bitcoin is indeed the main guideline of all existing cryptocurrency price movements and of course bitcoin does not always control the market because when altcoins have many developers it will have their own price movements.

[Mbah Jenggot]

In my opinion, bitcoin doesn't control the market. We all know bitcoin is the king of Crypto currency, I think bitcoin is not control , but just affect. When bitcoin is going strong, several altcoin will follow the bitcoin price .

[Malam90]

I think bitcoin could control the market. Because it is indeed the king of coin, bitcoin holds full power in the market. The price of bitcoin goes up, so altcoins also go up. And vice versa.

If bitcoin will be the global acceptance currencies then it would highly possible to dominate bitcoin to others cryptocurrencies, euros and dollars. But is it quite possible!!

Still now it is impossible for Bitcoin to dominate global currencies like USD, EURO etc. Bitcoin is only dominant position in cryptocurrency market with more than 65% dominance over all altcoins according to the current data of CMC. If Bitcoin will be accepted by all countries, global and local currencies will remain their position. We can compare Bitcoin with only virtual currencies.

[Paglamon]

Of course, Bitcoin controls the market. Bitcoin is a popular currency and most people trade in Bitcoin. The processing nature of the transaction is constantly increasing. The bitcoin currency is constantly rising. The market is constantly under pressure from users. Such advances in Bitcoin have gained more and more popularity in the market. So I think bitcoin controls the market a little bit.

[Ace H Knows]

No, but it has a strong influence on the market, every time the Bitcoin price is bullish the market will surely follow but it doesn't mean that they control the market,

[ashraf786100]

It is true that the bitcoin is the most important of all cryptocurrencies. Controlling the movement of all cryptocurrencies, including the Bitcoin, is a matter of pre-purchase and foreclosure, and if this does not exist.

[H2O]

No, but it has a strong influence on the market, every time the Bitcoin price is bullish the market will surely follow but it doesn't mean that they control the market,

Obviously bitcoin control the market largely because a few days ago bitcoin market below $ 10000 but now bitcoin price gradually increasing and all cryptocurrencies market simultaneously increasing due to bitcoin market rising. So bitcoin directly and indirectly control cryptocurrencies market.

[Nusrat]

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.

For now majority of the people willl look at bitcoin to determine the fate of other altcoins but in the future this might not be the case.

Yes brother I totally agree with you.  You have made a very good post in which the information that I do not know is clearly known.  I didn’t know exactly about it but now I know it perfectly.  Thank you very much.

[Carbitcoin]

Bitcoin control over the market will remain for quite a long time until the market reaches stable growth, because today many investors prefer bitcoins more than other alternative cryptocurrencies. Therefore, today bitcoin is growing, and altcoins practically remain in place, with rare exceptions.

[highnayem34]

Yes i know bitcoin is the king of all coins. If the price of bitcoin increase then all the coins also increase in the same way when it is going down then most of the coin also going down. I think all the coins corelate with bitcoin. In this concern i can say that bitcoin control the market.

Its happening every year. Yes it is genuine. That bitcoins depends on buyer and dealer. But I too see numerous individuals said whales controlled the Bitcoin price.

[jet]

I don't think it has control it's more on influence to the market as BTC is primary coin in the whole cryptocurrency many alts coins or token is getting it's momentum from BTC movment. I think this is because many people were actually more on investing BTC first then after they go for alts coins.

[sampoerna]

It is a very long post on the thread but it is still active now. And probably the OP is no longer active here.
But in my opinion, Bitcoin doesn't control the market, but Bitcoin can influence the market. the one who can control the market is the whales