Bitcoin price is constantly dropping for the last several days. What effects are putting it on Altcoins ? Is it bad or good ?
If bitcoin continues to fall, then all altcoins will also become cheaper, but with greater speed. Now on the market there is not any coin, which does not depend on the cost of bitcoin. Therefore, the fall of bitcoin is always bad for investors.
The effect of the price of Bitcoin is indeed so large against Altcoin price movements, when the price of Bitcoin decreases, it will also have an impact on the price movements of Altcoin. The majority of Altcoin prices are strongly influenced by how the price of Bitcoin moves. This is unavoidable because Bitcoin is the first available currency so Bitcoin is a pioneer in the digital financial system. We cannot avoid things like this because Bitcoin and Altcoin are the main components, let's increase the use of cryptocurrencies and we will get a new era in this world.