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.
I think it because bitcoin is the mother of cryptocurrency and the other coins value are relying into it. As we are known bitcoin has a biggest part in cryto world. It is the starter of all crypto so when it's movement are going down there is a big possibility that some other coins are following to it. Bitcoin is the leading crypto and it is the reason why cryptocurrency and cryptomarket are already known all over the world.
It could be affected of course because market has played a biggest role in the society. So bitcoin is involved that means bitcoin has shared something to the market and not just a market but a bigger and wider range of markets. Whenever bitcoin goes low,the market also has the tendency to go down especially if the market depends on bitcoin as source of financial assistance or a kind of their asset. No wonder market is affected because of bitcoin.