Few hours ago i read on CNN that one of the world's largest cryptocurrency Exchange site was hacked and the thieves got away with $30million dollars worth of cryptocurrency. According to the news, the news of the theft at the exchange hit the prices of cryptocurrencies. Bitcoin fell around 2%.
What is your view. Will it affect all altcoins too?
Altcoin price most of the time follows the lead of bitcoin price. If bitcoin goes green, the altcoins go green too. If it falls, we see the price of altcoin falling more badly. So yes, the hack will affect the price of altcoin if the price of bitcoin is affected. But weirdly, the price of bitcoin have turned blind eye and is still going up. The hack just caused a small price change which has been recovered soon and we are about the see the price hit $7,000 soon enough.