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.
In my observing, when the price of Bitcoin go down, it will make whole market also decrease, and the most important thing is that the price of Ethereum is also affected. It make the value of tokens when list in market will be affected so much
The truth is too obvious, the effect is huge when we can see the fall of bitcoin leading to the expansion and stretching of a lot of projects, even so many projects became quiet and turned into scammers when the price of the bitcoin appears problematic. And vice versa, when the price of bitcoin develops in a good direction, every project seems to be vibrant, ICO can always reach softcap soon, all of this is possible to demonstrate the impact of bitcoin on ico, very direct and powerful influence