Why is it that altcoins are been influenced by bitcoin price movement?


  • Supremo

    For some months and even years now, i have observed that each time there is a fall or rise in the price of bitcoin many altcoins follow this trend. Besides other factors like the demand and supply, media influence etc, i think that the most common factors that influence or that affects most altcoins ,if not all altcoins, is the Bitcoin upward or downward price movement or fluctuations. Share your thoughts. Thanks


  • Supremo

    @citycrypto That's a good question. I think for one, the crypto market as a whole are influenced by the same factors, so if there is a reason for Bitcoin to fall, that same reason is probably causing many altcoins to fall. Like if investors are buying a lot of Bitcoin, that means investors are probably buying other cryptos as well and vice versa. One reason being that a lot of big investors want to have diversified portfolios and a lot of people buy crypto with other cryptos.


  • Supremo

    @lucky777 said in Why is it that altcoins are been influenced by bitcoin price movement?:

    @citycrypto That's a good question. I think for one, the crypto market as a whole are influenced by the same factors, so if there is a reason for Bitcoin to fall, that same reason is probably causing many altcoins to fall. Like if investors are buying a lot of Bitcoin, that means investors are probably buying other cryptos as well and vice versa. One reason being that a lot of big investors want to have diversified portfolios and a lot of people buy crypto with other cryptos.

    But i think it shouldn't be all time bitcoin fall ,altcoin follow trend situations. Most altcoin should hold it's tide to be able to compete squarely with bitcoins otherwise this "king" will Everly remain the king and there may not be a rival even for hundreds of years to come.


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