Hi all!
With bitcoin flying to the moon, a lot of people expected a (huge) crash. In perspective of other crashes, how will the price of altcoins react when bitcoins drops to say $6.000? Will altcoin go up or down?
Bitcoin is the pack leader so if bitcoin prices drop then we should expect all other altcoins to be affected but some altcoins will appreciate in value because they are pegged to bitcoin price and a weaking bitcoin means a more power alt but then again it all depends on how investors react to this phenomenon.
In case this thing ever happens that we see the downfall of bitcoin, then there are likely chances that the demand of other crypto coins will increase due to the fact that people will look for some other ways of investing their money at that time.
Things will be in favor of rest of the coins which are there in the world of crypto currencies. Moreover, this will also help more people to buy bitcoins.