The connection between the prices of Bitcoin and Altcoins

[alltalk]

After several days Bitcoin increased significantly, finally today altcoins can follow the same trends as Bitcoin. I can understand why the impact of the rise on Bitcoin price doesn't influence suddenly since it needs time to be absorbed by the market. However, the influence of Bitcoin price on altcoin prices is proven now. So, what is your opinion about this, guys? Do you agree that Bitcoin price has a close connection with altcoin prices?

[ZionRTZ]

I thought that bitcoins' price effect on almost all altcoins has been proven and clear for months, if not years, now. There has been many discussion about that already. Bitcoin can carry alts up and drag them down. Alts, in most cases, follow bitcoin's price.

[trauchot]

This time it’s somehow difficult to understand whether altcoins depends from bitcoin or not, because when bitcoin grew rapidly, in same time altcoins was growing very slowly, but as soon as bitcoin growth ended, altcoins began to grow normally.

[Zed0X]

This is a normal reaction by traders when bitcoin makes a big move. Whether it goes up or down, most traders would drop their alts. When BTC "rests" at a certain level after a big upward movement, traders would go back to alts causing a pump.   

[88percent]

I agree that they have a close connection. Bitcoin can influence the prices of altcoins, we all already know about it. I think altcoins will be hard to increase if Bitcoin price is low. So, it shows us that they have a connection, and altcoins depend on Bitcoin price.

[VladEx]

It has been proven that both of them have a close connection. But is it a good trend or not, that is the main eternal question

[Bobcrypto]

I think it is a fact that both Bitcoin and altcoins has close connection even since inceptions of cryptocurrency. For example,  the demand for Bitcoin affect altcoins in some situations like the "pairing" in almost all the exchanges. Bitcoin is used for trading pair in almost all the exchanges today and that is one of the reasons they are closely connected.

[zilzylian]

Altcoin is quite a surprise in 3 days, after seeing the increase in Bitcoin and now the altcoin price rises because new investors need altcoins for the products they buy, besides wanting to get profit when investing Bitcoin, investors want to get profit by buying altcoins and hoping for prices will rise quickly.

[Rofiastuti]

in my opinion the relationship between bitcoin and altcoin prices is very tight because bitcoin is the first coin to be born and the crypto world is created because the bitcoin and bitcoin are benchmarks for altcoins that emerge later, so rising bitcoin prices will be followed by altcoin as well as bitcoin prices down, the altcoin prices will also go down.

[Knaw]

I myself also understand the effect of altcoin prices also depends on the price of bitcoin, because bitcoin is also the top coin and also many who use it to get their profits in the future.

[Absolutep]

In a way, there is a connection between the price of bitcoin and altcoins, when bitcoin rise in price and stabilize, we expect altcoins to also rise in price.

[aiviaa485]

Just Bitcoin and Etheruem that are still close have the same value image in the same direction as running side by side.
I can't say for all altcoins because it's like Bitcoin Cash ABC also when Bitcoin gives price increases but ABC actually drops prices.

[moonuranus]

Bitcoins price connects almost all the altcoins for being it's pair in the market and most common of course, more and more people firstly move to bitcoin by selling their altcoins to accumulate more of the king coin btc, then afterwards we'll see them getting back on it pushing upward all their favorite coin

[Zurcemozz]

Agree on you, there is a connection between these two, because we all know that Bitcoin is somehow to be father and king of cryptocurrencies, and because of this many people believed that if bitcoin fails, others too, So bitcoin is really related to this in terms, of movement in prices.

[gotbounty]

I agree most altcoins have connections to Bitcoin price. But not all altcoins, stable coins like Tether, USD Coin, or True USD seem not really depend on Bitcoin price. They depend on the price of US dollars. So, they are a bit different than other altcoins.