I have noticed it when actually the bitcoin price is rising up the cryptomarket also will. Is that because of bitcoin is directly proportional to the other cryptocurrency? so that when bitcoin dumped the other crypto also will dump? Whats your opinion about it?
True, bitcoin is an indicator of the cryptocurrency market, and the prices of altcoin depend on the price of Bitcoin. Of course, there may also be an exception, and the price of some altcoins may rise regardless of the price of bitcoin, but the general trend follows bitcoin.
as main cryptocurrency in market, bitcoin take important roles in altcoin price.investor psychology depend on bitcoin price.if its price rise and stable, investors become confidence buying altcoin.and it will make altcoin price rise alot.