Does The Price Of BTC affect Altcoins?

[PRIBO247]

Yesterday was something else. For the first time in 3 months, BTC price plunged below $6k. Almost simultaneously, some altcoins also experienced price drop. Was this as a result of the plunge in BTC price?

[ComeBack]

Yes, Altcoins are really following the bitcoin prices. Once the price going down expect that all of the altcoins will going to follow it.

[Hope15]

I think yes, when btc is down altcoin follow the price of btc but there are alts that not following the price of btc evwn if btc is down those alts are rising the price.

[sudeshkumar]

Yes, the price if BTC affects the prices of altcoins ,the phase from which the crypto market is passing through the BTC is the leading digital currency and all the parameters directly of indirectly have the connection of BTC.

[TripleVodka]

Yesterday was something else. For the first time in 3 months, BTC price plunged below $6k. Almost simultaneously, some altcoins also experienced price drop. Was this as a result of the plunge in BTC price?

almost all coins will follow the BTC price, because Bitcoin is main exchange is most of exchange in the world, so Bitcoin called the king of all crypto, which can influence the other crypto's price 

[Iconetlife]

Yesterday was something else. For the first time in 3 months, BTC price plunged below $6k. Almost simultaneously, some altcoins also experienced price drop. Was this as a result of the plunge in BTC price?

The cause of the BTC fall last night due to the BCH power struggle war, look at this: https://twitter.com/RamenofBinance/status/1062695905768263680/photo/1

Jihan:

I have no intention to start a hash war with CSW, because if I do (by relocating hash power from btc mining to bch mining), btc price will dump below yearly support; it may even breach $5000. But since CSW is relentless, I am all in to fight till death!

[yitzjoe]

now most altcoins will follow the price of bitcoin because almost all of their exchanges provide a pair of BTC and this is commonly done, so the benchmark price for most altcoins will depend on bitcoin

[sornaakter01]

I think yes. Most of the time I seen that when bitcoin dump that time all the altcoin going down like bitcoin (accept some special coin). For example last two days ago bitcoin going down again and that time all the altcoin going down same percent. Why? I think bitcoin pair is the main fact for this situation. Though many other analysis have different statement.   

[Thegals]

It is clear where the bitcoin price moves is very influential to Altcoin. So far like it is as good. Hopefully the bitcoin price goes up and can make the price of Altcoin followed as well.

[DeKingCrypto]

I believe it will certainly affect every altcoin because most of them are traded with Bitcoin.

[MOProgress]

Definitely it should, because even those coins are sold to bitcoin even before it is exchanged to local currencies.

[DogeTalk]

because of several issues due to hardfork bch. BTC holders sell and buy bch. only part of it and the btc went on I thought temporarily. I'm sure next month, BTC will increase again.

[sturec22]

well definitely yes!
Btc is right now back on leading the market. Sometimes when BTC is stable altcoin prices can move on their on however a big jump of a btc totally takes the control back to btc

[aldi putra]

in my opinion yes, the altcoin price depends on bitcoin.
because I think all coins depend on bitcoin.
and of course if the bitcoin goes down altcoin goes down

[Zed0X]

because of several issues due to hardfork bch. BTC holders sell and buy bch. only part of it and the btc went on I thought temporarily. I'm sure next month, BTC will increase again.

Was there a huge pump in BCH price that could possibly support your claim? I just read others say that the BCH harfork is hardly the reason for the dump.

EDIT: I just read a tweet posted on the previous that supports this claim.