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?
Now as I see it, many hid under this date and took a wait-and-see position. On the one hand, and now the price is acceptable for the purchase, so that may have a positive impact on your balance sheet.
This is the logic dude. bitcoin is a cryptocurrency with the biggest marketcap almost all altcoin users use and invest in bitcoin also.
if something happens to bitcoin market it will certainly be very influential on the whole cryptocurrency market, understand what I mean?
in my opinion, bitcoin and crypto are the same. indeed the price of bitcoin is a benchmark for other price prices such as altcoin and ico. I think bitcoin and crypto are the same. if bitcoin affects crypto, in my opinion, it's only a slightly different price.