Many people say that the prices of the alternate cryptocurrencies are reducing because of the reduction of BTC prices. Bitcoin is know as the first crypto currency but other alternative currencies such as Eth, Ripple, Lite works as individual platforms. Therefore how the other crypto currencies depend on BTCs?
After making study about cryptocurrency, so far I observed that people are still dependent with the price movement of bitcoin, if you look at the history same pattern is happening and maybe that is why bitcoin affects altcoins.
People think bitcoin is the king so the price should depend on bitcoin. Well every coin have their own kind of technology that can boost their value in the long run. Bitcoin affects the price of other cryptocurrency because of the huge marketcap, so even if you have good technology you will still dump just like bitcoin.