Observing the cryptocurrency market, we found that although most cryptocurrencies have price differences, most of them will fluctuate with the price trend of Bitcoin. When the price of Bitcoin increases, most other cryptocurrencies will also increase, and vice versa.
Is this trend due to large accounts operating on multiple exchanges or countless retail investors carrying price differences? Or is it caused by other operations?
Its simply due to the people emotions are driven by the bitcoin price movements, we all knows that bitcoin is the first and best cryptocurrency ever made so crypto community has high hope on it so all their decisions based on its movements which is why the price movements of other cryptos are proportional to the bitcoin.
with the largest capitalization in bitcoin, it is not surprising that the movement of bitcoin is used as a parameter for the movement of other coins, considering that when bitcoin is green, many other coins will follow it and vice versa. but we need to know that bitcoin is often dubbed the mother of other coins