Does The Price Of BTC affect Altcoins?

[Fenix]

Of course, the price of Bitcoin directly affects the price of the rest of the cryptocurrency. This is due to the fact that Bitcoin has a very high level of capitalization, more than half of all funds in cryptocurrency are invested in Bitcoin. This allows him to exercise price dominance over other types of cryptocurrency. Other cryptocurrencies repeat Bitcoin price movements.

[carcas]

people talking about the hardfork bch? I don't believe that. why doesn't the bch experience a big increase? I think this is a market correction.

[Morrower]

I'm almost sure that most of altcoins follow Bitcoin. At least because when btc falls people lose their faith in crypto and stop investing, just withdraw their money.
In such situation it's hard to rise. I think the only thing that can leave is if crypto is mined until you're online. And if you're an investor you won't invest more money in something that is dying.

[Collinberg]

I think the price of Bitcoin definitely affects Altcoins especially Ethereum and in extension Ethereum based tokens. When it pin takes one step back, Ethereum would take 5 steps back, I have noticed it severally.

[Rektymz]

This is what I'm waiting for, you will get a lot of profits by buying Bitcoin and Altcoin at low prices and selling at high prices, I think this is a sign that bullrun will occur at the end of the year.

[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?

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!

This tweet seem to be a declaration if war between csw and jihan. Hope investors are not going to pay dearly for this.

[maro101]

You are right. Since all altcoins depend on the price of bitcoin, so its fall will have a negative impact on all altcoins. I hope someday they will be independent from each other.

[yetti]

yes, of course, the price of bitcoin is very influential on altcoin prices because bitcoin price movements become a reference for all existing cryptocurrency prices, when bitcoin rises then altcoin will also rise but when bitcoin falls then altcoin will also fall.

[masterrex]

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?

Yes because the market is dominate by Bitcoin and most of Altcoins are base traded with Bitcoin. other than Ethereum and US$ Dollars. so this will be a big factor why Altcoins is also suffer when Bitcoin price was declining!

[Shanacute14]

Yes it affects the price of altcoins when the bitcoin gets down. Other altcoins depend on the price of the bitcoin. The price of bitcoin is falling and just like altcoins.

[NITIN2017]

Definitely the price of BTC affect Altcoins and other coins because BTC us a first crypto currency and a very huge coin in the world so when the price of BTC will increase or decrease then it will be a affect on Altcoins and other coins.

[PreshB]

Yes  the  price  of  bitcoin  affect  altcoin, because  they  are  trading  pairs. And  other  coin  rely  on bitcoin,  when  is  own  price  rise  others  will  likely  rise, because  they  depend  on  bitcoin.

[Kritkarika]

Surely that altcoin price dump because of bitcoin dump. Bitcoin always effect altcoins. Because bitcoin is the strongest coin which have biggest marketcap in that space. So bitcoin is rule the market. Btc decide the market situation is bull or bear. Because of that btc can effect all the prices negatively or positively.

[Stuart]

This is because the bitcoin has a huge dominance in the entire crypto market. In all altcoins, investments always accepts bitcoin, and at most, on a larger portion. A drop in bitcoin makes the entire market go red.

[masterrex]

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?

Yes because bitcoin was traded on all crypto-currency fairs thats why its highly possible to drag other altcoins if the Bitcoin price was down.