Hello!
With the recent decrease in value of Bitcoin, the value of almost all the altcoins dropped too.
Now BTC is rising again and so are the altcoins.
I am thinking that if Bitcoin ever crashes, I mean completely drops to a very low value and when doesn't increase anymore.
Then the altcoins are going to drop too and won't have a high value anymore too, which means the cryptocurrency world will die.
Is my statement just nonsense or can it be correct?
I'm curious of what you all think will happen to the altcoins if BTC crashes for real.
Can not imagine what if altcoin without Bitcoin, like a chicken without a mother. But in my opinion all will be back setabil, altcoin and Bitcoin will always coexist until later in the future.
I think it is impossible, many people know bitcoin more than all cryptocurrency, without bitcoin there may be no development of cryptocurrency. imagine if bitcoin die, we know how big bitcoin influence to market of altcoin, if bitcoin price drop all crypto will also experience the same thing. imagine if bitcoin die, of course crypto market will be destroyed because bitcoin is a picture for whole crypto..
The majority of altcoins follow Bitcoins prices and adjust but the mechanism is a puzzle to me, maybe the majority of altcoin holders use bitcoin as a benchmark and sell out of panik or buy out of fomo.