Is the price of ethereum dependent on bitcoin?

[Altcoin1998$]

Of course Ethereum is dependent on bitcoin market. Because in cryptocurrency market cap bitcoin and Ethereum two both very much profitable and more effective cryptocurrency in the market. When bitcoin will hit high direction then the Ethereum price will move on same direction. So you can easily realise that Ethereum is fully depend on bitcoin market.

[Kusuma]

Bitcoin becomes the main coin so that it can affect market conditions, when the price of bitcoin goes down, ethereum also follows it.

[Alcor]

Unfortunately yes. Ethereum and almost all other cryptocurrencies directly depend on the price of bitcoin. Of course, it is absolutely abnormal that the decentralized cryptocurrency market is strictly dependent on the price of bitcoin. In my opinion, this is not in any other market. I think this is still a manifestation of the immaturity of this market. Some analysts believe that over time, ethereum may go beyond the price influence of bitcoin. I want to see this as soon as possible.

[Jaguar]

One coin is the base of others.
One coin is the foundation of all.
Bitcoin price movement affect the entire market volume. That's the way of bitcoin momentum.

[Malam90]

Basically most of the altcoins are dependent on the Bitcoin price. If Bitcoin price fall, altcoin price also fall except few occasion. For example, you can see the bitcoin price now, It has been dumped so the price of Ethereum dumped now.

[Rivaldi Kunkun]

All coins are centered on Bitcoin. While so far we can see that many altcoins are growing because Bitcoin also keeps increasing. Yes, I think the Ethereum movement is also dependent on Bitcoin. But that's not always the case because Ethereum is experiencing very slow growth, to respond to the increase in Bitcoin prices.

I am in trading if you want to buy Ethereum always see the condition of the Bitcoin movement.

[DogeTalk]

I don't think ethereum will exceed the price of bitcoin in the near future. But it is likely that this will happen if ethereum publishes the latest technology which makes interested people prefer to invest in ethereum. That's what makes the price difference because people are more interested in buying bitcoin nowadays. Bitcoin is the center of crypto prices

[Istiak]

Bitcoin still has dominance over the crypto market and most of the coin depend on the btc market. Every Altcoin market changes with the btc market.  Maybe that's no how a decentralized market reacts but unfortunately, that is the truth. We have seen this from the past and still that happens every time.

[Fenix]

I don't think ethereum will exceed the price of bitcoin in the near future. But it is likely that this will happen if ethereum publishes the latest technology which makes interested people prefer to invest in ethereum. That's what makes the price difference because people are more interested in buying bitcoin nowadays. Bitcoin is the center of crypto prices

Ethereum does not set itself the task of exceeding the price of bitcoin. Although there are forecasts that the price of ethereum after the introduction of ethereum 2.0 updates may rise to $ 11,000. The rise in prices in the cryptocurrency market can also be affected by the emergence of a global economic crisis. This year's events on the cryptocurrency market will be very interesting and unpredictable in its consequences. Therefore, we expect surprises in the next few months.

[Seerge]

Bitcoin still has dominance over the crypto market and most of the coin depend on the btc market. Every Altcoin market changes with the btc market.  Maybe that's no how a decentralized market reacts but unfortunately, that is the truth. We have seen this from the past and still that happens every time.

Once again I say, this is indeed true.  Many Cryptocurrency coins whose prices still depend on the price of Bitcoin.  This could be because Bitcoin is the king of Cryptocurrency, so either Ethereum or other Altcoin has also made Bitcoin as a reference for their price changes.

[Kitme]

Not only ethereum the whole cryptomarket is dependent on bitcoin price so still bitcoin is the King of the cryptomarket but sometimes some altcoins do not following bitcoin price they suddenly increasing depends their project strength.

[Ambu]

Yes ethereum price moment is dependent on bitcoin because still bitcoin domination is increasing also this is the high market capitalization coin in cryptomarket so lot of altcoins are following every second bitcoin price if bitcoin price increase definitely many altcoins price will increase instantly include ethereum.

[Vx1]

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

In my opinion this is 80% correct, and it's not only Ethereum that depends on the price of Bitcoin. But I think all altcoi depend on Bitcoin.

[MrSpasybo]

Sorry to have to answer that "Yes". Bitcoin is still the king of the crypto market, of course the value of all altcoins is governed by it. Haven't dared to expect someday ETH price will be higher than BTC price

[bigcash2011]

It is somewhat true but not always rather i would say that the price depends on volume for example if the volume of overall crypto market is growing the price of those coins will increase which are getting most of this volume. So sometimes btc gets all the volume and pumps and sometimes the volume goes to top coins that all pump together so it is different everytime.