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?
All of the altcoins is based on ethereum and eth is tether to bitcoins, that is the reason why the entire market is being affected every time the price of bitcoins dropping.
Bitcoin is number one among all ALT coin posted in the market, it is very popular and it attract a lot of investors in the market, base on the market stability, market structure, fundamentals, among other is the high level of confidence by the investors compared to other coin posted. Yet, it is not automatically take all the ALT coins price during the heavy volume of investment resulting to the increase on price value of Bitcoin. some are even drops their market value. Market is Volatile and this apply to everybody.
I agree that bitcoin is number one among all altcoin simply because it is the first and father of all cryptocurrency. The market and bitcoin are connected to each other because all altcoin and exchange are paired with bitcoin. I also agree that bitcoin is most attractive cryptocurrency that can attract a lot of investors.