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?
As main currency in cryptocurrency market and as main pair in any exchanger, bitcoin price affecting altcoin price. If bitcoin price drops againts dollar, most altcoin drop againts dollar too because most altcoin pairs with bitcoin