Hi guys , i just want to know how bitcoins affects the flow of the cryptocurrency market? whats the basis or reasons why its going to be bloody when bitcoin drops ? As i observed when bitcoin drops , all coins drops also, and also when bitcoin is bloody , all coins are bloody too. do you have some further explanation about this crap.
Bitcoin prices affect other coins because crypto are identified as bitcoins. When people see bitcoin prices dropping, they get scared that all crypto will be affected and thus they start selling alt coins as well.