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?
of course, it's very influential, just look at when the price of Bitcoin up to $ 20,000/coin then all prices of Altcoin go rise too, and when the price of Bitcoin goes down, all the prices of the cryptocurrency go down too. so, the rise and down of the price of Bitcoin will greatly affect the price of all cryptocurrency...