Is the price of ethereum dependent on bitcoin?

[Green Sky]

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

[88percent]

Not only ether, almost all coins follow the movement of bitcoin prices. If the price of bitcoin rises, the ether will stabilize. If bitcoin is high, then ether will gain public trust and rise slowly. But if the price of bitcoin falls, the altcoin will drop faster.

[Hope15]

I guess it's yes ethereum is only next to bitcoin if bitcoin down the price so ethereum too and all coins follow cause bitcoin is the center off all in cryptocurrency.

[ayatoslaw]

ethereum is the strongest crypto after bitcoin, compared to eth with btc, eth is superior to its speed and cheap fees, it's just that investors still choose btc to become a means of payment and money exchange, but even so, btc remains better for now;

[trofim21]

not only the price of ethirium depends on bitcoin; the entire cryptocurrency market depends on this coin, this is the most important coin and it will always be in the first places

[tamango]

Every crypto has a positive correlation with BITCOIN: historically when it had deep down in price every coins had fallen too, even if with different %.
On the other hand everytime BITCOIN had a big rise, also altcoins have positive sign too. That's normal because BITCOIN dominance market is more than 50%!

[Fenix]

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

Yes, it is true. Virtually the entire cryptocurrency, not just ethereum, follows the price movements of bitcoin. Bitcoin price dominates other types of cryptocurrency due to its high level of capitalization. Now the level of Bitcoin capitalization is more than 112 billion dollars, while ethereum, which ranks second in terms of capitalization, has only 22 billion.

[youssefs0102]

it's true that all coins are related to bitcoin , when bitcoin is up all coins are up  but not immediatly because they go down for a while then going up to keep up with bitcoin

[elrozaqo]

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

I think.The price of ethereum dependent on the demand. For now bitcoin still affects the price of ethereum, because bitcoin is the King.

[hannyluv]

BTC is the basis of cryptosystem. The price of BTC affects not only ETH but all altcoins

[khufuking]

BTC as the backbone currency for the whole cryptocurrency space is for sure have an effect on all other coins especially the effect of news not only the price. But that is not always the case just go back a little early this year and the late of 2017, Ethereum price was totally independent  you could notice this clearly when the prices of the whole market collapsed in 2018 and Ethereum was the only coin that holds its price for so long until it finally follows but there was a huge gap between market collapses and Ethereum did.

Basically, all crypto get affected by BTC moves but this is not always the case.

[poshare]

The whole cryptomarket depends on bitcoin price. Just check the diagrams on coinmarketcap to ensure.

[Dinid]

Currently, yes.
Ethereum and others still depend on bitcoin price movement.
Bitcoin still be the main products on every/most of crypto exchanges.
Also,  bitcoin is having the most fiat pair on the market. That makes bitcoin still be the king

[fallenangel1789]

Almost half of Market Cap belongs to Bitcoin so not only Ethereum but also all altcoins are affected by price fluctuations of Bitcoin.

[TERMINO]

I think that is the system of crypto prices dependent to bitcoin value.
It seems that bitcoin is the bases of all altcoins price. They pattern the equivalent token numbers to bitcoin value which is good to have one major coin that domain cryptocurrencies.