Is price of the altcoin is based on price of the bitcoin?I have noticed the price of bitcoin falling down for past few days on same the price of altcoins are also falling down
of course not so each product stands alone, even though at the time of bitcoin fell the price of atlcoin also fell it only evoked panic by market participants because all have their own potential, indeed while the price of bitcoin has always been a reference for altcoins but bitcoin cannot set it up altcoin drop.
These are all cryptocurrencies and I think that is the main reason that when the price of BTC increases or decrease the price of ALT also increases or decrease. The relationship of these two is very strong. For example when the price of bitcoin decreased in the start of this year the prices of all other coins also decreased. People wonder why this happened. I think it is controlled by someone.