How does Bitcoin affect other Crypto?

[yousufatik]

I have recently been into altcoin trading. I just want to know, does the price of bitcoin affect the price of other cryptocurrencies as well? How? I really want to know. I have noticed that ever since the bitcoin price pumped up and reached 7,000 USD, the price of the altcoins had gone really really low. I almost lost my invesment due to this sudden drop. Does bitcoin price have something to do with this?

[bdsharminsoltana]

Bitcoin as we all know is the main crptocurrency that ever existed and bitcoin is the best among all cryptocurrency that exists in this world. Bitcoin is so related to other cryptocurrency. It is just because that alternative coins or alternative cryptocurrency really depends on bitcoin. In terms of trading. Bitcoin is known for a very good long term investment. And altcoins are just trying to copy that in a sense using another coin for another term of investment.

[Dprincebh]

Almost all altcoins are been pair to btc, that's the major pairs on all exchanges. I think that's why all altcoins respect that

[boyknightvn]

Yes, almost altcoins are priced by BTC, so altcoin's price fluctuate in the same direction with Bitcoin's price.
But if Bitcoin prices increase while Altcoin prices fall, it is a sign of a cash flow into Bitcoin.
Besides, you should look at the total Market Cap to see the different

[Faulidin]

That's correct, btc is king of crypto. Btc is the main coin traded on each crypto exchange.
Typically, all other altcoin are paired with btc. So the btc price affects altcoin prices, and vice versa

[Abusadeeq6]

Bitcoin has the special ability to distabilize or stabilize any altcoin. This fact is just because they are pair with bitoins.

[pwt22]

Everything is simple, most cryptocurrencies can not get anywhere without bitcoin, it can be clearly seen by the cryptocurrency market itself, when cryptocurrency falls or grows, also half of the new alts use bitcoin technology, so without a bitcoin, cryptocurrency world it would be difficult to exist at the moment.

[Daviost]

the main reason is that most of the coins in the market can't be exchanged directly to USD. Accordingly most altcoins have a Bitcoin calculated price. So first you should buy Bitcoin to getting any token. Thus, the change in the Bitcoin's price causes price changes of altcoins.

[Dkingbh]

most cryptocurrencies can not get anywhere without bitcoin, it can be clearly seen by the cryptocurrency market itself, when cryptocurrency falls or grows, also half of the new alts use bitcoin technology, so without a bitcoin, cryptocurrency world it would be difficult to exist at the moment.

[Dkingbh]

It is just because that alternative coins or alternative cryptocurrency really depends on bitcoin. In terms of trading. Bitcoin is known for a very good long term investment.