Does bitcoin control the market?

[vitek146]

As the number one cryptocurrency, Bitcoin naturally controls the market, since it has the largest capitalization. Also, the price of it is controlled by bitcoin whales who own large quantities of these tokens and can significantly affect the state of the price. Well, the state of bitcoin is most often followed by all altcoins. like behind a lighthouse, where he points his light there, and all unfold.

[Quantum X]

In my opinion, it cannot control the cryptocurrency because it as well as other human needs and must comply with the law of supply and demand every letter must rely on the market to develop.

I agree with you as Bitcoin is considered the King of all the coins and the whole market is moving on BTC movement like if the BTC price increased then all the coins are pumped up and if the price is decreasing then the whole market becomes down.

Bitcoin is too obvious the manipulative crypto in digital world. And so it is true that it is controlling the way where the market of all altcoins is heading regardless of the direction of altcoins.

[Lutera94]

I think that controlling the price movements of all crypto currency including bitcoin depends on the presence of buyers and sellers,if it doesn't exist it seems like it will be very difficult to control the price of bitcoin.

Add one more point, which is bitcoin popularity. If everyday bitcoin famous for various person in all over the world then btc investor automatically coming for buy bitcoin. And it will be happened right now, as a result price goes to up. Thanks

[0t3p0t]

Most people believe that the price of altcoins' is determined by the price of bitcoin and that they tend to follow it's market movements.

I partially disagree with this. I have studied prices of coins and tokens on CMC and the fluctuations of each currency seems to be unique and independent of any other digital currency. Some show strong pumps when BTC goes down and some heavy dumps when BTC is rising.

Undoubtedly, there are market forces and factors which affects most currencies, this is not influenced by bitcoins price, it rather controls bitcoins' price as well as others.
So when trading or investing, make sure you treat each currency differently as they have different utilities.

For me, Bitcoin controls the market because if you try to look at the charts, the flow of the market in altcoins tend to follow Bitcoins movement. What I mean here is that some coins has delayed reaction due to the domino effect of prices wherein newer tokens and coins depends on the price of Ethereum or whatever coins they are paired and the Ethereum and paired coins are dependent to Bitcoins that is how it works for me.

[Charmaine]

If you say no, I believe you do not fully understand the cryptocurrency market. Bitcoin is a giant when bitcoin increases, almost all other altcoins go up and in the opposite direction, as the price of bit coins decreases, most of the other altcoins also decrease. So bitcoin is always the king of altcoins

[dodok]

yes, I totally agree with your opinion that not all altcoins depend on bitcoin, because now you can see that the increase in bitcoin is very extraordinary, which has no effect with other altcoins.

[Ganesa]

Bitcoin makes up a huge part of the cryptocurrency market. so the future bitcoin will thrive in the future. and there will be many new altcoins born with new features that will help cryptocurrencies become popular and stable in the future.

[Wedhus Balap]

I agree with you. Indeed, each coin has its own characteristics, including fluctuations. But in my opinion, even though it might have a small impact, most people will still consider the rate of rise and fall of bitcoin as a barometer when they want to transact with altcoins.

[Ricky]

Bitcoin is called the king of the cryptocurrency world. Bitcoin is on top of the cryptocurrency market. I think Bitcoin has the power to control the cryptocurrency market.

[Galaxy]

Bitcoin is currently in the best position. The price of Bitcoin has risen much more than in any previous year. Bitcoin has improved a lot in new ways. Controlling Bitcoin is not possible right now or at any time. Because Bitcoin has reached a stage that cannot be controlled.

[Damrai5$]

The way the price of Bitcoin is going up nowadays, it is never possible to control the Bitcoin market.  Everyone thinks that the price of Bitcoin will increase further because of the huge investment of people.

[Apower$]

The way the price of Bitcoin is rising nowadays, it is never possible to control the market of Bitcoin.  We see that the prices of Bitcoin and Etherium are constantly rising.  At the same time it is seen that the prices of other coins have started rising.  And everyone thinks that the price of other coins, including Bitcoin, will go up further because of the huge investment of people.

[fadl4]

Everyone has a different opinion, I always thought that bitcoin did not control the market, but altcoins followed bitcoin, because bitcoin was the first to be created

[saprakib]

I think that controlling the price movements of all crypto currency including bitcoin depends on the presence of buyers and sellers,if it doesn't exist it seems like it will be very difficult to control the price of bitcoin.

You said exactly .Only buyers and seller can control the market .Bitcoin is a coin it is just tradable and we can exchange it how could it control the market .It may cause some impact on the market but never made any control of the market .

[ranaprime]

There are lots of people express that bitcoin control the marker but i have an argue with the fact. We know currently the bitcoin price approximately 31000 or more but there are lost of coins in the market which are less then at the high price of bitcoin. On the other hand ether price is not increasing in the bull run of btc. So how can i say that bitcoin can control the market. I think in some times market trend assume about bitcoin price and they walking in that way. I know that it is the king of crypto currency.