I have been wondering how directly and indirectly fluctuations in the price of bitcoin affects ICOs performance at that time. Anyone who knows this can assist in the explanation.
When the price of bitcoin decreases, the whole market falls. For example, a long downtrend begins and many projects cancel their ICOs. Also when the dominance of bitcoin capitalization increases, investors sell altcoins and tokens and buy bitcoin, as the price of altcoins and tokens starts to decline, and interest in bitcoin is higher