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?
Bitcoin has a tremendous impact on other crypto movements. This is because Bitcoin has such a great power. The value and movement of bitcoin will definitely change the price of altcoins. This is something that cannot be avoided. As long as Bitcoin becomes a financial system that has a very large market share, Bitcoin will have the majority of the power available.