Quote from: jc89 on May 27, 2018, 03:37:40 PM

Quote from: Mind Control on May 27, 2018, 02:20:14 PM

Quote from: borjois56 on May 26, 2018, 03:45:45 AM

I want to ask you all, why if bitcoin price goes down, altcoins price also come down, what is alcoin-price bitcoin, please give me your answer.

When Bitcoin's price increases, altcoins' prices follows. When Bitcoin's price decreases, the price of altcoins follows as well. This is happening because the price or value of all altcoins out there is linked to Bitcoin and not to fiat. If you could notice in all exchanges they have this so called "Market". Let us take ETH for instance. If you want to buy/sell ETH in BTC Market (ETH/BTC), the price is in terms of BTC (i.e. 1 ETH = 0.1 BTC). So if the value of 0.1 BTC now is $700 then 1 ETH = $700, after a day the value of 0.1 BTC went down to $600 then the value of 1 ETH would be $600 as well (saying that the conversion factor of 1 ETH = 0.1 BTC does not change).

This is well explained answer. This is correct. Since altcoins are linked to Bitcoin then the price of altcoins depends on Bitcoin. Bitcoin is the cryptocurrency that has a direct conversion to fiat (other major coins are also convertible to fiat directly, however, they are also connected to Bitcoin so Bitcoin is the main catalyst here). I think there is no more info to add to the above's instance, as it is a self-explanatory instance (in my perception).

It is obvious that the market value of any of the crypto coin cannot rise higher all the time and that there will remain some fluctuation in the market value of almost all the crypto coins because of the volatile nature of the crypto coins. Bitcoin surely does have an impact on the rest of the crypto coin as it is the backbone of the entire market and the downfall in its market value effect other coins as well.