Why altcoins are following Bitcoin?

[Imran Noori]

Bitcoin is the king of crypto market and a change in it's price could cause big changes in altcoins' prices, I think the reason is that people trust Bitcoin more than altcoins because Bitcoin is the first and most secure crypto currency, if Bitcoin collapses this means that all crypto market will collapse.

What do you think? Why do altcoins follow Bitcoin?

 

[riberet19]

It is normal it has always happened like this in the markets, for example in the traditional stock market the smallest and small-cap assets follow the large-cap assets and indexes such as the sp500 nasdaq, gold, apple etc because these are the ones that mostly express market sentiment and spread through other assets, In the crypto market everything begins and ends with Bitcoin.

 

[Suba]

The main reason Altcoin price movements follow Bitcoin prices is because they are always used as trading pairs, such as BTC/USD, BTC/SOL, BTC/LTC. BTC/ETH etc. Bitcoin acts as a sentiment indicator on the crypto market. The success of Bitcoin will be closely related to Altcoins, Many big Altcoins are basically the result of Bitcoin forks.

 

[Reedex]

The Bitcoin is the pioneer crypto and all other coin dance to it tunes.

 

[Enxx]

I am not saying that my answer is right, but with what I have noticed with the price of cryptocurrency. I see that Bitcoin is the first cryptocurrency and the most popular. So as people trade Bitcoin and the price rise so will others follow, but it is not all the altcoin.

 

[riberet19]

I am not saying that my answer is right, but with what I have noticed with the price of cryptocurrency. I see that Bitcoin is the first cryptocurrency and the most popular. So as people trade Bitcoin and the price rise so will others follow, but it is not all

This is because bitcoin is the largest in the market in market capitalization, so market sentiment is more reflected in it due to its high volume and this is indirectly reflected in the other cryptocurrencies and their prices.

 

[gammarays]

Bitcoin is the flagship of crypto currency. It's the highest in terms of marketcap. Since it's at the top, whatever affects it affects other altcoins whether positive or negative. Institutions see it as the major crypto currency too.

 

[uptrendfinancialsignal]

The Bitcoin is a Pioneer cryptocurrency and its movement also affect the movement of many altcoins.