Why do bitcoin and ethereum prices still very related?

[Kiran Sehzadi]

Hi folks.
I wanted to raise this quick question: while BTC and ETH are powered by the principle of distributed ledgers and cryptography, the two differ in many technical ways and they also differ in purpose. Bitcoin is a so-called currency, while Ethereum is developed as a platform which facilitates P2P contracts and applications via its own currency vehicle. The primary purpose of ETH is not to be a payment solution (to my knowledge).
I sold almost all my BTC, my portfolio is now 80% ETH and it annoys me a little to see how ETH struggles to gain value whenever bitcoin's price drops (actually I am exaggerating a little, since January 1st ETH is doing alright compared to BTC but still you get my point).

Any opinion welcome.
Thanks.

[ambar33n]

This isn't any special correlation between Bitcoin and Ethereum, there is a certain correlation between the whole cryptomarket.
Primarily other cryptos follow Bitcoin in it's general price direction, but not the other way around.

This is simply because price is not determined by technology in the short term, but by opinions of average people who know nothing about cryptocurrencies.
Everyone knows Bitcoin is the main cryptocurrency here, so when it falls, people get out of the whole cryptospace, when it rises, people look into other cryptocurrencies as well. When you see price movement of some altcoin, you know that it is just small part of the whole market, so you don't react the same for the other cryptocurrencies.

You have to see this from the perspectives of someone who doesn't know anything about cryptocurrencies. They control the price.
If price was set by people who knew about how cryptocurrencies work, the value would only increase at an exponential rate.

[CrypMania]

People give value to things and ideas. Despite how marvelous the blockchain technology behind these two cryptcurrencies, it does not have as much impact on their price as the value people give to it. That's is why the spread of FUD has great potential to cause their prices to drop drastically. In a nutshell, I believe ethereum is more stable than bitcoin.

[Contagem]

With the price of Bitcoin associated with the price of many coins, not only does Ethereum depend on it. The dominance of Bitcoin in the world of cryptocurrencies is still strong and in the near future this will not change. Ethereum is a good coin, but it is unlikely to grow much faster than Bitcoin. Perhaps in the future, when the team Ethereum will solve the problems associated with the scalability of the network and the cost of transactions.

[Alcor]

The prices for bitcoin and ethereum are really connected. However, the price relationship exists not only between these two coins. Bitcoin completely dominates the price over all types of crypto-currency, and this is explained by the significant level of bitcoin capitalization compared to the total capitalization of other crypto-currencies. Only if the level of bitcoin capitalization falls, or the capitalization of other coins increases, then bitcoin will lose its price dominance over ethereum and other crypto currency.

[bayiajaib]

Hi folks.
I wanted to raise this quick question: while BTC and ETH are powered by the principle of distributed ledgers and cryptography, the two differ in many technical ways and they also differ in purpose. Bitcoin is a so-called currency, while Ethereum is developed as a platform which facilitates P2P contracts and applications via its own currency vehicle. The primary purpose of ETH is not to be a payment solution (to my knowledge).
I sold almost all my BTC, my portfolio is now 80% ETH and it annoys me a little to see how ETH struggles to gain value whenever bitcoin's price drops (actually I am exaggerating a little, since January 1st ETH is doing alright compared to BTC but still you get my point).

Any opinion welcome.
Thanks.

Because Bitcoin is The King of crypto currency. The value of bitcoin will affect all altcoins.

[owmivmen]

Yes every coin has advantages and different models of technology. I think that ethereum is more helpful in technology sections such as providing a platform for ICO Project tokens and facilitating transactions.

[therozaq]

Hi folks.
I wanted to raise this quick question: while BTC and ETH are powered by the principle of distributed ledgers and cryptography, the two differ in many technical ways and they also differ in purpose. Bitcoin is a so-called currency, while Ethereum is developed as a platform which facilitates P2P contracts and applications via its own currency vehicle. The primary purpose of ETH is not to be a payment solution (to my knowledge).
I sold almost all my BTC, my portfolio is now 80% ETH and it annoys me a little to see how ETH struggles to gain value whenever bitcoin's price drops (actually I am exaggerating a little, since January 1st ETH is doing alright compared to BTC but still you get my point).

Any opinion welcome.
Thanks.

Because bitcoin is the first of crypto.The bitcoin value affect the price of all altcoins.

[dekafee79]

Hi folks.
I wanted to raise this quick question: while BTC and ETH are powered by the principle of distributed ledgers and cryptography, the two differ in many technical ways and they also differ in purpose. Bitcoin is a so-called currency, while Ethereum is developed as a platform which facilitates P2P contracts and applications via its own currency vehicle. The primary purpose of ETH is not to be a payment solution (to my knowledge).
I sold almost all my BTC, my portfolio is now 80% ETH and it annoys me a little to see how ETH struggles to gain value whenever bitcoin's price drops (actually I am exaggerating a little, since January 1st ETH is doing alright compared to BTC but still you get my point).

Any opinion welcome.
Thanks.

Because Bitcoin is the First of crypto currency, Bitcoin price will affect ethereum and all altcoins.

[rizqillah]

Hi folks.
I wanted to raise this quick question: while BTC and ETH are powered by the principle of distributed ledgers and cryptography, the two differ in many technical ways and they also differ in purpose. Bitcoin is a so-called currency, while Ethereum is developed as a platform which facilitates P2P contracts and applications via its own currency vehicle. The primary purpose of ETH is not to be a payment solution (to my knowledge).
I sold almost all my BTC, my portfolio is now 80% ETH and it annoys me a little to see how ETH struggles to gain value whenever bitcoin's price drops (actually I am exaggerating a little, since January 1st ETH is doing alright compared to BTC but still you get my point).

Any opinion welcome.
Thanks.

Because bitcoin is the first of block chain technology. The value of bitcoin will affect all altcoins.

[Doctor]

Hi folks.
I wanted to raise this quick question: while BTC and ETH are powered by the principle of distributed ledgers and cryptography, the two differ in many technical ways and they also differ in purpose. Bitcoin is a so-called currency, while Ethereum is developed as a platform which facilitates P2P contracts and applications via its own currency vehicle. The primary purpose of ETH is not to be a payment solution (to my knowledge).
I sold almost all my BTC, my portfolio is now 80% ETH and it annoys me a little to see how ETH struggles to gain value whenever bitcoin's price drops (actually I am exaggerating a little, since January 1st ETH is doing alright compared to BTC but still you get my point).

Any opinion welcome.
Thanks.

Because Bitcoin is The King of crypto. Bitcoin is the first use block chain technology. The value of bitcoin will affect the price of all altcoins.

[eurcoin88]

Hi folks.
I wanted to raise this quick question: while BTC and ETH are powered by the principle of distributed ledgers and cryptography, the two differ in many technical ways and they also differ in purpose. Bitcoin is a so-called currency, while Ethereum is developed as a platform which facilitates P2P contracts and applications via its own currency vehicle. The primary purpose of ETH is not to be a payment solution (to my knowledge).
I sold almost all my BTC, my portfolio is now 80% ETH and it annoys me a little to see how ETH struggles to gain value whenever bitcoin's price drops (actually I am exaggerating a little, since January 1st ETH is doing alright compared to BTC but still you get my point).

Any opinion welcome.
Thanks.

You make me read a one page of book with ypur question. My understanding is all coin specialy altcoin is just depending on btc  price because bitcoin is the first coin produce my cryptocurrency and the patent of all coins. So what happen of bitcoin price the other coins will follow through.

[Mbah Jenggot]

Hi folks.
I wanted to raise this quick question: while BTC and ETH are powered by the principle of distributed ledgers and cryptography, the two differ in many technical ways and they also differ in purpose. Bitcoin is a so-called currency, while Ethereum is developed as a platform which facilitates P2P contracts and applications via its own currency vehicle. The primary purpose of ETH is not to be a payment solution (to my knowledge).
I sold almost all my BTC, my portfolio is now 80% ETH and it annoys me a little to see how ETH struggles to gain value whenever bitcoin's price drops (actually I am exaggerating a little, since January 1st ETH is doing alright compared to BTC but still you get my point).

Any opinion welcome.
Thanks.

The reason why bitcoin and ethereum prices still very related because bitcoin is father of crypto and ethereum is mother of tokens.

[purpleseven]

The value of crypto is based on the function of the crypto. the better the technology and the coin holder the value of the coin will increase.

[RedzoneASE19]

Hi folks.
I wanted to raise this quick question: while BTC and ETH are powered by the principle of distributed ledgers and cryptography, the two differ in many technical ways and they also differ in purpose. Bitcoin is a so-called currency, while Ethereum is developed as a platform which facilitates P2P contracts and applications via its own currency vehicle. The primary purpose of ETH is not to be a payment solution (to my knowledge).
I sold almost all my BTC, my portfolio is now 80% ETH and it annoys me a little to see how ETH struggles to gain value whenever bitcoin's price drops (actually I am exaggerating a little, since January 1st ETH is doing alright compared to BTC but still you get my point).

Any opinion welcome.
Thanks.

I felt the same way mate. This situation right now is a bit peculiar since the price of eth become stagnant.