Does bitcoin control the market


#1

Most people believe that the price of altcoins’ is determined by the price of bitcoin and that they tend to follow it’s market movements.

I partially disagree with this. I have studied prices of coins and tokens on CMC and the fluctuations of each currency seems to be unique and independent of any other digital currency. Some show strong pumps when BTC goes down and some heavy dumps when BTC is rising.

Undoubtedly, there are market forces and factors which affects most currencies, this is not influenced by bitcoins price, it rather controls bitcoins’ price as well as others.
So when trading or investing, make sure you treat each currency differently as they have different utilities.


#2

which controls the market is demand and supply. btc does not control the market, the proof is that the value of other coins is still decreasing, while the value of btc has gone up. other than that, affecting the market conditions is the market’s negative and positive sentiment.


#3

right
bitcoin really not control the market
demand and supply has power to control the market
demand high supply low neans market high
demand low supply high mean market low


#4

Bitcoin does controls the market. There are more than 5000 coins and tokens in the market and you are talking about only a few which are going against the trend. If you’ll compare the percentage, you’ll find there are less than 1% of coins which are going against btc and the most probable reason is that either they are getting listed on their first exchange or some milestone has been achieved by the project at that time or other reasons.


#5

Demand and supply is not much changed in last few years amd even some more good coins have been added which are being bought in bulk, then why is our marketcap decreasing day by day.

Everything depends on btc and whales simply manipulates the price of bitcoin and everything goes down/up with btc.