Kompo Posted March 25, 2020 #1 Posted March 25, 2020 When do you think that Bitcoin we start to influence other altcoins in the cryptocurrency market so that as is rising in price other altcoins will join it to rise as well, but not to see opposite side of it in other coins. Can Bitcoin actually influence other altcoins in 2020?
evet Posted March 25, 2020 #2 Posted March 25, 2020 Yes it does. Even other crypto currencies are affected by bitcoin. But there are some alt coins that are based on other currencies that is affected by bitcoin in an opposite way. I think I had read about that somewhere on the internet.
hayach201 Posted March 25, 2020 #3 Posted March 25, 2020 Yes, of course, the bitcoin coin affects significantly and most of the cryptocurrencies, and the reason is that it is the oldest cryptocurrency and the most expensive currency, so all other currency exchanges are linked to this currency, whose price in 2017 reached $ 20,000
sahil777 Posted March 25, 2020 #4 Posted March 25, 2020 every other crypto depends on bitcoin there is no doubt about it, but other crypto also have their own price and market and investors, so sometimes other coins can go opposite of bitcoin, but mostly not usually they up and down with bitcoin movement.
Mashfiqun2018 Posted March 25, 2020 #5 Posted March 25, 2020 Actually there is a huge influence of bitcoin on other altcoins. A good reason is that most altcoins, when listed on the market, is listed with a BTC pair (not always though). So the prices are heavily influenced by bitcoins price movements. Bitcoin is also the oldest cryptocurrency in the market. These are the main reasons we see a decline in almost all the cryptocurrencies prices (other than stablecoins) when bitcoins price fluctuates. The same goes for uptrends as well.
lideralex Posted March 25, 2020 #6 Posted March 25, 2020 yes, they are all based and btc dependent, there was only one that tried to be independent of the dash currency but it didn't go forward I think #CampaignStakeStayInHome#
bobdice Posted March 25, 2020 #7 Posted March 25, 2020 Bitcoin controls most of the currencies present in the market and that it is the strongest currency and the first currency to go to the market and for a long time we see Bitcoin controls the direction of the market significantly
Stefannnn20033 Posted March 25, 2020 #8 Posted March 25, 2020 every other crypto depends on bitcoin there is no doubt about it, but other crypto also have their own price and market and investors, so sometimes other coins can go opposite of bitcoin
Penta06 Posted March 26, 2020 #9 Posted March 26, 2020 Bitcoins serves as the mother of all altcoins its just because they are all depends on the bitcoin price in the market. When the bitcoin pumps up the altcoins also pumps so that's how bitcoin influence the altcoins in terms of the value price point in the market.
Magdsolieman Posted March 29, 2020 #10 Posted March 29, 2020 I used to think that every currency is responsible for its price, but in the last period we have noticed that when the price of bitcoin goes down all currencies go down and when the price goes up all the currencies go up and therefore the effect is very clear
obi1wan Posted March 29, 2020 #11 Posted March 29, 2020 well i really think that bitcoin has big influence on other altcoins because its biggest and most known crypto nowadays so it leads the market and if it falls, other coins tend to drop price too
nasima begum 00 Posted March 30, 2020 #12 Posted March 30, 2020 Well bitcoin being the mother coin of the cryptocurrency world has strong influence on all other altcoins due to the fact that any force that affect the bitcoin market either positively or negatively will also robe on all other tokens and coin in the market, so its in most cases bitcoin that control all other coins in terms of market movement.
Salsa Posted March 30, 2020 #13 Posted March 30, 2020 Bitcoin is the god of all crypto currency and we all know that...so if btc price go down or go up suddenly then all the price of currency raise up and down too..so we can say btc influence all altcoin
Tushi Posted March 30, 2020 #14 Posted March 30, 2020 We begin to influence other elcoins in the cryptocurrency market so that as the price rises, other bitcoins are associated with it, but not in the other currencies.
itconsults Posted March 30, 2020 #15 Posted March 30, 2020 Yes, now bitcoin is prevailing, all crypto currencies are affected by bitcoin and many other alt coins can be influenced by bitcoin in some aspects. Because now bitcoin is playing very important role in all business markets.
j240 Posted March 31, 2020 #16 Posted March 31, 2020 Yep bitcoin absolutely affects all of the alt coins out there , when i was new to crypto currency rely on bitcoin and noticed that when the price of it goes down or up the others follow, bitcoin is the mother of all crypto currency.
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