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

[Z-crypt]

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 ?

[TomPluz]

Do you think it is a good thing for Bitcoin to have this influence ?

You are actually talking not just the influence of Bitcoin here but the very existence of the whole cryptocurrency industry as I don't think all other coins and tokens would be here had it not been for the introduction of Bitcoin and the blockchain technology. Accounting for more than 50% of the market dominance, where Bitcoin is going pulls other crypto assets either to the top or down. Is that good? Yes that is quite good though of course we might say bad if the market is down but this is one big reality we have to face in this open market: volatility.

[omori]

Who else would be worthy of such influence?

[Charles-Tim]

Do you think it is a good thing for Bitcoin to have this influence ?

It is very good so that the market can easily be predicted.

[dave_strider]

It is very good so that the market can easily be predicted.

We already have too many metrics to work with, I am glad that BTC is the factor that can be worked around in no matter the time frame

[Mia Chloe]

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.

The basic idea is this; virtually all markets require liquidity in order to move now the Bitcoin market is not left out of this even the whole crypto market isn't too. Bitcoin has a very huge price and a huge market cap accompanying it too and as a result of that you will definitely expect its effect on the ecosystem to be huge too.

Volume matters a lot in price movement especially how intense that particular movement would be. This is the major reason why you see it's almost as if the price of Bitcoin indirectly controls the price of most coins on the market.

[electronicash]

it only takes a Bitcoin fud and then prices could be sent straight to the deep hole as long as the community sees it affecting the market. but supply squeeze can also send its price to the sky.

the halving is just one event that influences the entire crypto market. every halving has been celebrated by the community and we are all been watching the effect event if it takes time to happen, we still have that count down.

[Amphenomenon]

Do you think it is a good thing for Bitcoin to have this influence ?

Yes, I wonder what other decentralized cryptocurrency would be better to become the face of cryptocurrency?

The value, security use case and individual preferences has been among the significant effects of this.

[Makus]

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.

[slapper]

The domination of Bitcoin is neither good nor bad. It just is, and pretending it shouldn't be is like arguing gravity is unfair. Literally, the entire crypto economy was formed around Bitcoin. Every smart contract, meme coin, or layer-2 solution lives on the financial and psychological framework Bitcoin developed. BTC represents 90% of the narrative control of the market, not merely 50% of its total capacity. Price discovery? Liquidity? Even the regulatory debate? Whether we wish it or not, all orbits Bitcoin

Why then people still wonder whether it's good? Good for whom? Speculators? Developers? Institutional adoption? Retail bagholders? Good is meaningless to the market. It cares about motion, network effect, and who gets there first. Bitcoin's influence is self-reinforcing because people believe it is. Not only market cap, but also basic memetic strength. Not BTC supremacy is the risk. It's that the rest of the ecosystem still lacks independent identity

Everyone wants altcoins to decouple, but most can't. Still, functionally they are leveraged bets on Bitcoin mood. Nothing changes until we see a genuine, different economic layer developing behind things like DeFi, Web3, or even NFTs that can price themselves without looking at the BTC ticker. The market is still Bitcoin with extra steps

[Baofeng]

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 ?

I think there's no need to question the effect of Bitcoin or it's influence, it's the prime mover, so everyone has to see where it will be going. And primarily, every altcoins has it's pairing with BTC with that, everything relies on Bitcoin itself.

Although right now it has decoupled with most altcoins as it has been moving by itself with a new all time high pre-halving and most of the altcoins are still suffering.

Nevertheless, the influence will still be there no matter what.

[bayu7adi]

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...

[Z-crypt]

Do you think it is a good thing for Bitcoin to have this influence ?

Yes, I wonder what other decentralized cryptocurrency would be better to become the face of cryptocurrency?

The value, security use case and individual preferences has been among the significant effects of this.

I’m not against the fact that it’s at the forefront of cryptocurrency, just wanted to know what others think about its influence on altcons price movement because obviously if Bitcoin price moves higher, altcoins wil definitely follow suit and vice versa.

[snowpega]

Bitcoin dominance influence is good for the whole market because with the help of this we can predict the bitcoin influence on other altcoins. And it helps the investors to be safe at their end because when they see the market condition, they will invest accordingly, or they will have an idea of whether this is the best time to enter the market or not, and in this way, we can say that Bitcoin dominance also helps investors in risk management. CMIIW!

[Celph]

Bitcoin dominance influence is good for the whole market because with the help of this we can predict the bitcoin influence on other altcoins. And it helps the investors to be safe at their end because when they see the market condition, they will invest accordingly, or they will have an idea of whether this is the best time to enter the market or not, and in this way, we can say that Bitcoin dominance also helps investors in risk management. CMIIW!

  Exactly.
   Before investing in other crypto’s, bitcoin is used as a tool to consider whether of not to partake in that decision.Bitcoin being at the forefront of cryptos guarantees security of funds through the awareness of the market capability at that period seeing it also as the first cryptocurrency and also the most successful.Investors teust on other crypto’s are gained mostly on how well the bitcoin market is doing.
   I tend to wonder if there could be any coin that can be replaced as a forefront and i just can’t seem to come across any.With it’s ability to withstand the market as well as accumulate profit, and security amongst others; majority of these benefits cannot be seen in most crypto’s and that is why the investors trust lies on bitcoin.