Hello guys...
I have diversified my portfolio to about 25 different cryptos which were worth about 7000-8000$ just before the bitcoin crash came and I am wondering whats the exact reason behind this, when or will it recover (and so the alt coins I hold, don't have any bitcoin).
Why do almost all alt coins crash because of the bitcoin crash or correction?
My portfolio is worth only 4000$ atm.
Sorry for being an beginning idiot and asking this and thanks for everybody who can explain it to me
This is bcz BTC is the king and by king we mean its the gateway currency. Most of the exchanges provide fiat gateway for BTC/ ETH only. So when BTC falls all the currency fall more as people sell the altcoins for BTC to convert back to fiat. Also since BTC falls the price of altcoins falls as well creating a waterfall impact and hence the bloodshed.
Dont worry your portfolio will be right back and to the moon soon