Is the price of ethereum dependent on bitcoin?

[@Royale]

Altcoins prices right now are dependent on bitcoin. Everything usually goes down when bitcoin goes down.

If we were to scrutinize their price charts, everything that you've just said was true. One factor that attributed to this fact i think, is that every major exchange offers BTC trading pairs (where you can trade BTC for alts rather than alts for fiat or USDT). Because BTC is the top coin being traded for other alts in terms of market cap, volume, and general popularity, it is thus at the center of the crypto economy.
Nevertheless, the fact remains that Bitcoin and Ethereum [or any altcoins] differ in purpose. Essentially, Bitcoin is a digital currency and Ethereum is a decentralized network of applications. Although in a way, Ethereum developers and companies depend on the Bitcoin network for its stability and security.

[Hallet]

The answer here is yes my friend, ETH and all other altcoins still under the affect of Bitcoin price, just a little movement from Bitcoin side will always take the whole market go together

[sawadikap758]

see from the movement, indeed this bitcoin has an influence for all coins, with the decline of bitcoin making the others also come down and vice versa and the answer is that bitcoin has a big influence on coins like ethereum too.

[alstevenson]

see from the movement, indeed this bitcoin has an influence for all coins, with the decline of bitcoin making the others also come down and vice versa and the answer is that bitcoin has a big influence on coins like ethereum too.

Agree, this is what they called bitcoin dominance, thats why when bitcoin is decreasing on price. All altcoins decreasing in price as well, and all of the altcoins are paired with BTC thats why.

[coinlurker]

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

Totally dependent on bitcoin should not be the case, partially maybe. Everyone know that cryptocurrency is started by bitcoin and then altcoin so if bitcoin is taking heavy damage ETH will not be at a safe zone that is for sure.

[Dodo]

I think all coin prices will depend on Bitcoin and I still doubt that if a coin like ethereum doesn't depend on the price of Bitcoin.
although many projects use ethereum blockchain networks, ethereum's selling value will decrease because many buy at low prices

[IvugeoEvolutionCoin]

ethereum and bitcoin have very different types of platforms and have very different technological concepts, bitcoin and ethereum are very different.

[Rex]

Yeah I think ETH price is also depending on Bitcoin price too. Because Bitcoin still has the most influence in the market and ETH still can’t beat bitcoin in this influence

[dentolas]

it is so true that if you compare both charts you loose the will to invest in ETH... seriously, I am an enthusiast of ETH and admirer of the doors that it opened for all humanity, but in the end bitcoin rules and if btc goes down, the other coins follow... unfortunately we have a BTC dominance around 52% for a long time and it really seems it will stay that way for now...

[trauchot]

Usually this is the case, as soon as bitcoin begins to grow and at the same time ethereum also begins to grow, this happens in about 99% of cases, but ethereum itself also sometimes grows independently of bitcoin, but this is rare.

[VirtualBtc]

Not only Ethereum but also others coin depends on bitcoin. When bitcoin price increasing then you notice that all others coins increase simultaneously. 

[IyemRoker]

My experience in 2016 is that the prices of altcoins and BItcoin are the opposite.
Suppose Bitcoin rises then the altcoins price drops in price and Bitcoin drops in price so altcoins increase in price.

[Nautilus]

It is related with the bitcoin and the market situation right now. Maybe later, we will see that Ethereum will move differently from btc, but it won't move apart from market situation, ever.

[ankhi00]

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

Yes, true that not only the ethereum but also other coins price depend on the price of bitcoin. Because when we see the  coin price graph  of the market we see that if the price of BTC down than other coin also down.

[Xtinah]

Obviously it is.... Ethereum price is dependent on bitcoin. You can see that from the recent fall in price of ethereum and other altcoins, all these happened because of the dump in bitcoin price.