Hi guys, BTC is going down again today.
I don´t hold any BTC because I don´t see future in this coin, but...
Always when BTC is going down so everyone else, do you think that in case of dramatic fall will every other crypto go down too?
And it brings me another question, when people sel their BTC, where the money goes? Do they make instant withdraws in USD and get out of the trade completely? Cos if BTC is going down some else should rise but whole market is on decrease.
The behavior that has been observed in the market recently clearly shows that the price of bitcoin still has a very marked influence on the behavior of all other altcoins. Therefore I have no doubt that the eventual fall of bitcoin would bring great uncertainty and generate a fateful bloodbath in the market, but the positive aspect of this would be that without bitcoin, the market would recover gradually given its undeniable utility in the current economic system, and their prices would depend more on their advantages and benefits than on the mere speculation that bitcoin has caused so far.