What do you think of Bitcoin influence in the crypto market ?

[snowpega]

I think Bitcoin is the king of crypto, so there is nothing wrong if the value of Bitcoin affects the value of other crypto coins, this has actually become a reality, not an opinion anymore, if BTC goes up it can make other coins and tokens go up, although not as significant as when BTC goes up, but the movement in altcoins is there, even though it is slow

Now here are two points to be discussed, like one is a downtrend and the other one is an uptrend. Bitcoin's downtrend makes a panic condition in the market, and we know the altcoin market follows its moves, so the majority of the investors fetch their invested amount out of the altcoin market for safe play. And when the bitcoin market starts to follow an uptrend, then many of them who took their amount out of the market miss their old entries, and some of them fall prey to FOMO, and this becomes the reason the altcoin market does not move in an uptrend like the Bitcoin market.

Must share your opinion on this; would like to know your point of view, and also CMIIW! 

[Bobcrypto]

Bitcoin is the first coin that lead the part way for other cryptocurrencies creation however without bitcoin there wouldn't be any crypto coin in existence, that is why bitcoin is considered the king of all coins. If the price of bitcoin  gets affected probably by a news that made the price drop to less than $10,000 every coin in the market would also get affected because the most reputable project is down with a huge percentage drop. That is why bitcoin is a huge influence in the cryptocurrency market, besides most coins are tied to the price of bitcoin in the sense that, an increase in bitcoin would also trigger increase in the coin and vise versa.

Bitcoin do not just control the coin/tokens on the market that are tied to it, or the coins that are tied to is blockchain network, but controls almost all crypto assets on the market. There are evidence to the fact that Bitcoin drives the entire market prices, a Bitcoin dump of about 5% will lead to altcoins dropping between 15% to 24%. As a matter facts, Bitcoin remains the king of all crypto and command huge influence both on the trading and investing opportunities with good returns on a regular intervals.

[|MINER|]

Bitcoin do not just control the coin/tokens on the market that are tied to it, or the coins that are tied to is blockchain network, but controls almost all crypto assets on the market. There are evidence to the fact that Bitcoin drives the entire market prices, a Bitcoin dump of about 5% will lead to altcoins dropping between 15% to 24%. As a matter facts, Bitcoin remains the king of all crypto and command huge influence both on the trading and investing opportunities with good returns on a regular intervals.

Currently I am seeing Bitcoin holding almost 62% of dominance from cryptocurrency market cap where Ethereum holding only  8.1% and all the other hold only 29.9%.

Since Bitcoin holds more than half of the crypto market cap, it is natural that Bitcoin will influence the entire crypto market.
As we can say, since big whales have more Bitcoin, they can manipulate the market for a short time, similarly, since Bitcoin has occupied a large part of the market, it controls the market.

[Mr. Allcrypto]

Bitcoin is the first coin that lead the part way for other cryptocurrencies creation however without bitcoin there wouldn't be any crypto coin in existence, that is why bitcoin is considered the king of all coins. If the price of bitcoin  gets affected probably by a news that made the price drop to less than $10,000 every coin in the market would also get affected because the most reputable project is down with a huge percentage drop. That is why bitcoin is a huge influence in the cryptocurrency market, besides most coins are tied to the price of bitcoin in the sense that, an increase in bitcoin would also trigger increase in the coin and vise versa.

Bitcoin do not just control the coin/tokens on the market that are tied to it, or the coins that are tied to is blockchain network, but controls almost all crypto assets on the market. There are evidence to the fact that Bitcoin drives the entire market prices, a Bitcoin dump of about 5% will lead to altcoins dropping between 15% to 24%. As a matter facts, Bitcoin remains the king of all crypto and command huge influence both on the trading and investing opportunities with good returns on a regular intervals.

That's true mate and Bitcoin have shown this time without number and that's why when you look at the difference between Bitcoin and other projects, it's very clear that Bitcoin is the main core of the market because over the years if we have been observant of the market we get to notice that whenever Bitcoin is climbing up there are tons of coins that follows it movement likewise if it going down too.

[r_victory]

For me, Bitcoin is similar to the dollar in the global economy, it has a big influence on the price of other currencies. If Bitcoin goes up, other currencies go up too, if it goes down, the same thing happens (most of the time), this has become normal and natural in the cryptocurrency market. The problem is that if Bitcoin “goes bankrupt” it is likely that the entire cryptocurrency market will end up the same way. It is a mistake to link an entire ecosystem to just one currency.

[Mia Chloe]

Bitcoin does not affect altcoins, in fact bitcoin was present before altcoins.. on the contrary, what is worth questioning is the influence of altcoins on bitcoin... we see this as something that already exists (bitcoin) then something new appears (altcoin)... for bitcoin itself until now it still dominates the market, so we can consider bitcoin as the largest entity in the cryptocurrency space,
From me personally, I see altcoin as an alternative coin,,, and my main coin is still bitcoin.. because the main identity of cryptocurrency is bitcoin...

I actually don't agree with this because liquidity has a major role to play in price movement either to the upside or to the downside. Basically in the whole of a crypto ecosystem bitcoin has the highest market cap and liquidity which simply means even if it is not directly connected to the other networks it has an indirect effect on them when it comes to price movement.

It may not seem like much but if you observe closely you'll notice that the whole market seems to dump generally when bitcoin is actually dumping there's a lot of logical reasons to this that you just can't dispute.

[omori]

For me, Bitcoin is similar to the dollar in the global economy, it has a big influence on the price of other currencies. If Bitcoin goes up, other currencies go up too, if it goes down, the same thing happens (most of the time), this has become normal and natural in the cryptocurrency market. The problem is that if Bitcoin “goes bankrupt” it is likely that the entire cryptocurrency market will end up the same way. It is a mistake to link an entire ecosystem to just one currency.

And as we can see now, if the whole market is feeling fear-y and the "Black Monday is coming!  ", BTC and crypto market goes down with it.

[enwi]

For me, Bitcoin is similar to the dollar in the global economy, it has a big influence on the price of other currencies. If Bitcoin goes up, other currencies go up too, if it goes down, the same thing happens (most of the time), this has become normal and natural in the cryptocurrency market. The problem is that if Bitcoin “goes bankrupt” it is likely that the entire cryptocurrency market will end up the same way. It is a mistake to link an entire ecosystem to just one currency.

This has the effect of making the whole structure feel shaky because the entity in this case relies on one source of movement. You also notice that most projects that can have potential are often likened to a shadow of only one useful asset. That is why when all the further steps are dictated by one basic direction, the chance to observe the logical further development of other projects that should have their individual development pattern, is eliminated. Strange as it may sound, it is not about wishing to compete but to allow each part of the ecosystem to take some air. Should something that is the pillar crumbles then it is not only a technical problem, but the trust created over the years will go down the drain. That is not a small risk, for something that is still progressing there in front of millions of people.

[tequilla_sunset]

For me, Bitcoin is similar to the dollar in the global economy, it has a big influence on the price of other currencies. If Bitcoin goes up, other currencies go up too, if it goes down, the same thing happens (most of the time), this has become normal and natural in the cryptocurrency market. The problem is that if Bitcoin “goes bankrupt” it is likely that the entire cryptocurrency market will end up the same way. It is a mistake to link an entire ecosystem to just one currency.

This has the effect of making the whole structure feel shaky because the entity in this case relies on one source of movement. You also notice that most projects that can have potential are often likened to a shadow of only one useful asset. That is why when all the further steps are dictated by one basic direction, the chance to observe the logical further development of other projects that should have their individual development pattern, is eliminated. Strange as it may sound, it is not about wishing to compete but to allow each part of the ecosystem to take some air. Should something that is the pillar crumbles then it is not only a technical problem, but the trust created over the years will go down the drain. That is not a small risk, for something that is still progressing there in front of millions of people.

BTC is such a pillar in the minds of the investors and ordinary people alike, everybody looks at it and thinks to themselves what the market is fearing or thinking about.

And I agree with the take of some air taken by other projects, because, honestly, there is no coin that puts toppling BTC as the target - it is either profit or something else completely.

[Gposas]

For me, Bitcoin is similar to the dollar in the global economy, it has a big influence on the price of other currencies. If Bitcoin goes up, other currencies go up too, if it goes down, the same thing happens (most of the time), this has become normal and natural in the cryptocurrency market. The problem is that if Bitcoin “goes bankrupt” it is likely that the entire cryptocurrency market will end up the same way. It is a mistake to link an entire ecosystem to just one currency.

You are right and I think this is because Bitcoin was the pioneer and beginner of the crypto industry, since Bitcoin was the foundation of the Crypto space both in terms of popularity and investors attraction.

As of last year the rate of price increase in Bitcoin sometimes gives a negative price trend to other Altcoins all as a result of it's dominance power.

Though other Altcoins are created on their own Blockchain and they have their own utility and purpose of creation but whenever they come into the Crypto market, they are always being subdued/controlled by Bitcoin trend.

[Bobcrypto]

It is generally known that Bitcoin has a strong hold in the crypto market and it is very certain this strong dominance will continue for a long period. This is due to Bitcoin’s market capitalization taking over half of the entire crypto market which resulted in BTC having the power and influence on the market performance of altcoins in general. I mean BTC price movement affects the entire market. Do you think it is a good thing for Bitcoin to have this influence ?

Bitcoin has a Long history of dominance over the altcoins, it has become a nature of bitcoin with dominant factors like the demand, awareness, adoptions and popularity etc. As many of us know, it certainly obvious that Bitcoin is the first crypto and command a good demands constantly. The demand for Bitcoin over altcoins has greatly influence the altcoins especially if we consider it's marketcap, and trading volume overtimes.
Bitcoin will remain in control of the market as far these factors continue to play out.

[Fivestar4everMVP]

It is generally known that Bitcoin has a strong hold in the crypto market and it is very certain this strong dominance will continue for a long period. This is due to Bitcoin’s market capitalization taking over half of the entire crypto market which resulted in BTC having the power and influence on the market performance of altcoins in general. I mean BTC price movement affects the entire market. Do you think it is a good thing for Bitcoin to have this influence ?

Well, to be honest with you, I do not know if to say it is good or bad, and this is possibly because I hold and trade in both bitcoin and Altcoins..
So, the dominance bitcoin has over other cryptocurrencies is definitely good for bitcoin, as it is an advantage bitcoin holders enjoy knowing well that no other Alt in the market can over power and possibly drive the market without or when the price of bitcoin isn't stable and in support of Altcoin prices going up.

Also, the dominance of bitcoin has made it possible that no Altcoin without strong fundamental and use case survive in the long run..
So let's just say that bitcoin having this influence in the market now seems like a good thing, but then again, I still look forward to the future when the entire market cap of cryptocurrencies becomes more evenly distributed, will be interesting to see what some Altcoins will be worth by then.

[snowpega]

Currently I am seeing Bitcoin holding almost 62% of dominance from cryptocurrency market cap where Ethereum holding only  8.1% and all the other hold only 29.9%.

Since Bitcoin holds more than half of the crypto market cap, it is natural that Bitcoin will influence the entire crypto market.
As we can say, since big whales have more Bitcoin, they can manipulate the market for a short time, similarly, since Bitcoin has occupied a large part of the market, it controls the market.

Why is that so? Because the majority of the investors are holding their major part of their portfolio in the Bitcoin, in this way it holds the big part of the whole crypto market. Other than that, whenever anyone asks me to suggest him/her before investing in the crypto market, I always suggest to him/her that he/she should invest the major part of his/her amount in Bitcoin and a minor part of his/her portfolio in the altcoin market, and he/she should also hold some part of his/her amount in the form of USDT to buy the opportunity while in the dip.

At the end I also suggest one more thing to that person: that he/she should DYOR because it must be done before investing anywhere in the crypto space.

[legend45]

It is generally known that Bitcoin has a strong hold in the crypto market and it is very certain this strong dominance will continue for a long period. This is due to Bitcoin’s market capitalization taking over half of the entire crypto market which resulted in BTC having the power and influence on the market performance of altcoins in general. I mean BTC price movement affects the entire market. Do you think it is a good thing for Bitcoin to have this influence ?

Bitcoin has a Long history of dominance over the altcoins, it has become a nature of bitcoin with dominant factors like the demand, awareness, adoptions and popularity etc. As many of us know, it certainly obvious that Bitcoin is the first crypto and command a good demands constantly. The demand for Bitcoin over altcoins has greatly influence the altcoins especially if we consider it's marketcap, and trading volume overtimes.
Bitcoin will remain in control of the market as far these factors continue to play out.

Bitcoin will indeed always control the crypto market, because as the king of Bitcoin Crypto is always followed by his movements in the market.
 Bitcon is always priorotas.
 The current dominance of the crypto market is still held by Bitcoin, but ahead of the Altcpin Season the dominance of Bitcoin will decrease and switch to Altcoin, we just wait.

[enwi]

Bitcoin will indeed always control the crypto market, because as the king of Bitcoin Crypto is always followed by his movements in the market.
 Bitcon is always priorotas.
 The current dominance of the crypto market is still held by Bitcoin, but ahead of the Altcpin Season the dominance of Bitcoin will decrease and switch to Altcoin, we just wait.

As the cycle analysis shows, it begins with Bitcoin on every new turn on the graph. It is not just the issues of the numbers and the shares, but the trust which is being developed from the start or in any case is to be created. I understand what you are trying to say that the phase when altcoins come into the limelight can occur at any point in time as soon as Bitcoin slows down. More so, it can be considered as a capital rotation strategy and not a swap of positions. Large investors are aware of the fact that at some point risk is more acceptable and this is where altcoins come in. However, Bitcoin will still be the centre of focus when the market of such cryptocurrencies begins to experience some turbulence. Thus, it is not about leaving domination but about giving a chance to other assets to exist at least.