I have recently been into altcoin trading. I just want to know, does the price of bitcoin affect the price of other cryptocurrencies as well? How? I really want to know. I have noticed that ever since the bitcoin price pumped up and reached 4,000 USD, the price of the altcoins had gone really really low. I almost lost my invesment due to this sudden drop. Does bitcoin price have something to do with this?
yes it does affect the price of altcoins.It's trading.if you trade btc/eth then if bitcoin rises then eth falls bitcoin acts like father of altcoins.If bitcoin falls most of the other popular alts fall as well.