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
Bitcoin is the first and top cryptocurrency among other coins and is the father of other coins, and there is a possibility of influencing other coins including Altcoin.
and the reality in the market situation if bitcoin prices go down or red, other coins will gradually go down and if there is another coin going up or green it will eventually adjust the value of bitcoin not only Altcoian but all coins.
and that's my judgment, even though the reality is not the same.
I also admit that bitcoin is the leading crypto in the world and when the price of bitcoin falls the prices of Altcoin also fall. As I know the reason is this that most of the people have invested in bitcoin and the crypto market is broadly influenced by the price of bitcoin. Now there is a little bit change in this mood because people are putting their money in Altcoin mostly.