Why does the price of Bitcoin have an impact on the price of other cryptocurrency coins?

[Yusra3]

If you have been in the cryptocurrency community for a long period the one thing that you'll notice is that when bitcoin price increases colored other chosen cryptocurrency coins also increase as well. This is also the same when the price of Bitcoin is to de-escalate and so we will see a call crash across all of the cryptocurrency coins with a beaucoup of them being tired towards bitcoin prices. Notwithstanding the question that I've is why does the Bitcoin price call the prices of other cryptocurrency coins considering that they're all operating on their network and as a result there's no link between them. I would anticipate that if the price either people will also start to buy other chosen cryptocurrencies by moving their bankroll from bitcoin into those cryptocurrency coins their by raising the prices, therefore. What's the reason for bitcoin being the sole caesar when it comes to cryptocurrency price auguries?

 

[Sotherefore]

Well this is what I have been asking myself the reason why bitcoins have the right and power to influence all other cryptocurrency. I always considered cryptocurrency as a decentralize technology in which the influence of other coin do not have effect on others but this is not what is happening with BTC and other altcoin.

 

[mokter22]

The bitcoins have the power and right influence rather than other cryptocurrency in the cryptocurrency platform. I also like bitcoins and trade with this. There are many currency like bitcoin but power is not same.

 

[conducked]

unfortunately bitcoin is the parent of them all, and one day btc will cease to exist

 

[brianelliotwv]

I guess it's the greatest and oldest of all time, and people judge cryptocurrencies through bitcoin price.

 

[Suba]

Altcoin prices often follow Bitcoin prices, despite the difference in percentage, because Bitcoin dominates the market capitalization of the largest, and most Altcoin prices are measured in Bitcoin fractions, Bitcoin has also been used as a reserve currency for transactions.

 

[Zonked]

Bitcoins have more power and influence in the cryptocurrency platform than any other cryptocurrency. I enjoy bitcoins and trade with them as well. There are many currencies, such as bitcoin, but their power is not similar.

 

[coin456]

Yes the price of all other coins is co-related to BTC