Is the price of Ethereum dependent on Bitcoin?

[Domithra]

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.

[moonking]

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.

Yeah it all kinda moves as a group doesn't it, but I know people trade coins against each other as well.  Alt coins appear to be a little more volatile than bitcoin.

[lembayung]

Actually Ethereum's price is not dependent on Bitcoin as long as Ethereum can be consistent in running its market. Because Ethereum is very good and it takes many projects in the ICO to become tokens. In this case Ethereum could actually raise its finances through the ICO and most of it control the state of the price of Ethereum.

[paydayloan]

Yeah, ethereum value depends on bitcoin. If bitcoin rises slowly, then ethereum and other alcoints will follow behind. It is undeniable that the influence of bitcoin on the value of other coins is very large. That's natural because bitcoin is the first crypto currency to be launched so bitcoin has a large community.

[yousufatik]

In the Reality, it's not true that particular coin prize dependent on the Bitcoin or any other. It's just a normal thing whenever any news impact on the market, whether it's going or up-down people used to take reference of good coins like Bitcoin. That's the thing really matter in price change for others. Even when Bitcoin go down that time many coins got good uptrend. Maybe that time people want to invest in other coins. In the last days, Even ETH was more down over to the Bitcoin. Even many times Doge-coin was up when the market swimming in the red ocean.

[comer]

Somehow, ethereum price is greatly influenced by bitcoin. As we see the market, the movement of BTC will directly affect the movement of all altcoins including ethereum. We could not deny the fact that BTC holds greater share on the market. Although, there are many factors affecting the movement of ethereum but it's undeniable that a large portion of it is by the influence of btc.
ICO's have a share on the movement because most of project are basing their platform on ethreum blockchain. A large circulation of the coin was put into the ICO market.

[Patellaa]

In every global firm im sure there is a unit used as a check on other things. Its more like the dollar being the global unit for stock exchange. BTC has more influence than any other coin. Have you even wondered by the BTC is not grouped but The ETH falls under altcoins?. ETH can run its market for sure but the ultimatum will always be used as the check on it and other coins..

[gribble]

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.

Yes, that's true the value of ethereum prices always depends on the price of bitcoin. If bitcoin rises slowly, then ethereum and other alcoints will also follow behind. and it cannot be denied that the influence of bitcoin on the value of other coins is very large. That's natural because bitcoin is the first crypto currency to be launched so bitcoin has a large community.

[CatureX69]

In my opinion there are other factors that influence the weakening of Ethereum's price, namely the increase in traders who take it, this is also one of the causes.

[Davidniam55]

if in my opinion and what I've read and pay attention not only to etherium that follows the movement of the bitcoin price chart. but there are some cryiptocurrency having price chart movements like bitcoin bro ..

[Ghozrd]

Bitcoin and ethereum are very different, I see ethereum have a lot of ICO projects now and some of them have changed scams, I think ethereum will have a good price when there is no scam ICO project.

[glina]

Bitcoin’s market cap is huge. When bitcoin goes up, cryptocurrency index goes up and vice versa. Bitcoin is the de facto digital currency. The reason mentioned in the other answer is also true that FIAT-ETH conversion is not offered by all exchanges, often times you have to spend BTC to trade ETH. Again, the reason is the huge volume of trade for bitcoin.

[asraf]

i think ethereum still depends on bitcoin as well as other altcoins, even though it looks like it can stand on its own because there are still many ico projects running well until now but ethereum prices still hold strong on bitcoin prices.

and in my opinion ethereum prices cannot be separated from the rise and fall of bitcoin prices.

[lembayung]

Maybe if now yes. So now the Ethereum market is still influenced by the Bitcoin market because the Bitcoin users in Crypto are more than 50%. But I am sure that in the near future Ethereum can slowly escape the dependence of the ups and downs of the market can be separated from the influence of Bitcoin. Because Bitcoin users are slowly starting to release their Bitcoin and move to Ethereum. on the other hand Ethereum prices are also affected by Tokens in the ICO.

[Alcor]

The fact that the price of Bitcoin directly affects the price of the rest of the cryptocurrency, including the ethereum, we can clearly see in the example of this year. As soon as Bitcoin began to fall in price since December and dropped to $ 6,000, the entire cryptocurrency also fell in price and since that time has been stagnant with Bitcoin. If Bitcoin did not provide price dominance for other types of cryptocurrency due to its high level of capitalization, then we would see now not a continuous stagnation of cryptocurrency, but chaotic price movements of coins and tokens, depending on the direction of development of their projects.