I have been looking around a lot online and I see many different beliefs on this topic backed with no evidence. Lately, BTC has been fluctuating between 750-1050$ and I was wondering how the movements in bitcoin affects altcoins? If anyone has a general consensus please let me know.
tec alt coin price is not direct to Bitcoin but to USD . but because we cant convert dirct to USD and only to BTC for now the price in Sat will go down when BTC goes up or vice versa ... for true price of Burst or any other altcoin keep record of its value in USD not BTC...... like last month around new year BTC went up over 1100 and burst droped from 80 sat down into the 50's .. but if you watched the price of burst in USD at that same time the price went from 10,000 burst = $5.75 ish up to around $6.50 so even thou it was droping in the amount of Sat it was in reality going up in value it's just that the value of Bitcoin was far outpaceing it at the time
Im pretty sure the rise and fall between alts and btc , would equalize each other out in some way
btc drops , said altcoin rises at the same time , value isn't really affected and vise versa
I enjoy the surprises in fluctuation
part of what makes it so fun for me
I think Gibsalot hit alot of it being in relation to BTC pricing as the stability feature in not being able to trade for a fiat currency. The other portion of the conversation ties to fear/hope. When BTC goes up or down, the average human mind thinks to either buys/sell alts as a "safety or hope" mechanism to alleviate/mitigate some risk and/or to ride the hype up. It's like owning gold/silver. The prices are not tied, but generally are in comparison with the global economy (View that as the BTC). Strong global economy and the pricing goes down as more trust is put into it. Fear over the economy, war, inflation etc., and the prices of bullion whether that is gold/silver typically goes up as a "safety net".
To me, I think it is just your basic supply and demand trait! For example, the more people are involved with a certain crypto-currency say burst coin, and the more interest people have in it by buying it with bitcoin, you will see the price start to go up and also with the fact that you have people who are bringing inovative ways to use it around the world by crowdfunding it.
If you look at bitcoin, it is backed financially by some of the biggest corporations such as amazon, ebay, tigerdirect, newegg, and many more to where they will accept bitcoin as payment for goods! Bitcoin has an auction site like ebay but you use bitcoin instead, bitify.com and also the U.S.A. Government has bitcoin to sell off in Government auctions from seized assets and drug bust! The more ways you can impliment the crypto-currency into the everyday person's life, the more it will be worth!
Now to talk about the Bitcoin price! That depends on who is buying and selling, and for what price? The time of year such as now Feb. 13th 2017, most people are not spending money cause after the first of the year you have to try to make up hours in a job which most are cut, and also tax season! You also have to stay on the up and up with bitcoin/altcoin news to see who has started a new trend/site or merge and if it will contribute to the community in a big way!
These are just my thoughts, maybe some will agree, some will not so don't judge harshly.