I am newbie just know bitcoin and cryptocurrency 5 months ago whether other cryptocurrency besides bitcoin can compete with current bitcoin value or value and what only bitcoin can be the leader of this cryptocurrency and what is the alignment of a cryptocurrency currency that the price becomes very high
Depend on supply and demand, when the people want more demand the more supply it become, so basically the highest price , the highest will be the pay or tax.
And in addition, the market is very volatile that is very very unpredictable, because we all know that we don't have just one bitcoin or crypto currency , we have tons of them. So basically all of them compete and making the market very volatile. And i think that's where the price became up and down.