I have recently been into altcoin trading. I just want to know, does the price of bitcoin affect the price of other cryptocurrencies as well? How? I really want to know. I have noticed that ever since the bitcoin price pumped up and reached 4,000 USD, the price of the altcoins had gone really really low. I almost lost my invesment due to this sudden drop. Does bitcoin price have something to do with this?
Most of the altcoin are paired with bitcoin so that if the price of bitcoin goes up or down it will really affect the price of altcoin. But, some altcoin are not paired with bitcoin so that there are time the price of bitcoin is high and some altcoin are low. I think the price of bitcoin will determine if the price of altcoin will go up or down.