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I personally think that most altcoin price is dependent on the Bitcoin. BTC is the most trusted cryptocurrency. many people still make this crypto as the indicator of the cryptocurrency condition. The market also shows when the price of the BTC is down, the altcoins will follow, so does the Ethereum. Moreover right now, this altcoin (ETH) is still in the bad market condition, so it is normal for this.
Bitcoin has a general influence on the entire crypto market due to the pairing of most of the coins including Ethereum to Bitcoin on the market. Also, Bitcoin holds more than half the total number of crypto investors. However, the price of Ethereum is dependent on several factors not on Bitcoin alone. The major factors include the performance of ICOs because more than 90% of ICOs use the Ethereum Blockchain.
Quote from: Domithra on October 20, 2018, 02:34:48 AMBitcoin has a general influence on the entire crypto market due to the pairing of most of the coins including Ethereum to Bitcoin on the market. Also, Bitcoin holds more than half the total number of crypto investors. However, the price of Ethereum is dependent on several factors not on Bitcoin alone. The major factors include the performance of ICOs because more than 90% of ICOs use the Ethereum Blockchain.Yes the price of bitcoin will.affect the value of all crypto currency. Because bitcoin is still the King of crypto currency.
Quote from: vegasus on December 02, 2018, 02:30:54 PMI personally think that most altcoin price is dependent on the Bitcoin. BTC is the most trusted cryptocurrency. many people still make this crypto as the indicator of the cryptocurrency condition. The market also shows when the price of the BTC is down, the altcoins will follow, so does the Ethereum. Moreover right now, this altcoin (ETH) is still in the bad market condition, so it is normal for this.That is definitely correct Bitcoin dominates more than 50% of the total market dominance and second to Bitcoin isRipple with 11.11% dominance on the market at this moment and this statistics on coin market cap really shows thatBitcoin is really dominating the whole cryptocurrency world and almost every altcoins are depending on it.