[Crypto Q&A] Why would most altcoin prices move in the same direction as Bitcoin most times?no

Invité

Its Depends bid and ask

The fundamental reason behind altcoins following Bitcoin is because altcoin prices are typically measured in Bitcoin. The original crypto asset may be flanked by over 3,000 competitors, but it still commands over half of the entire cryptocurrency market cap. This domination of the crypto market affords Bitcoin a lot of influence and control. In addition, most altcoins can’t be purchased directly using fiat currencies; instead, the majority of buyers purchase some Bitcoin first, and then trade it for their altcoin of choice. Therefore, if someone holding altcoins wants out of the crypto industry altogether, it’s most likely they would first sell their assets for Bitcoin, and then convert Bitcoin back to a fiat currency. This symbiotic relationship means that the value of different altcoins is often tied to Bitcoin. As a result, an altcoin’s value is often measured against the price of Bitcoin, so the price of altcoins could go down if Bitcoin goes down, and conversely, the price of altcoins could go up if Bitcoin goes up.

altcoin will follow btc price, btc will be signal for altcoin however, btc is mother of crypto

altcoin following btc xD

because market FOMO or FUD

because many altcoin is paired with BTC ex: ETH/BTC, LTC/BTC so if BTC price down, other altcoin will following..

Because Bitcoin is dominance of the crypto market cap