Quote from: cheezcarls on Today at 07:39:29 PM

Quote from: jinneas on July 22, 2021, 01:30:54 AM

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?

This is likely because most of the cryptocurrencies are still influenced with the major moves of Bitcoin. As Bitcoin rises, others will follow and the same thing goes if it goes southward. Bitcoin is the most popular cryptocurrency worldwide and it's likely the mostly-used cryptocurrency to be exchanged to various altcoins.

Bitcoin use as benchmark of this market, most of the time it reflects to each alts whenever bitcoin pumped

up, hypes happened and more alternative assets recieved good amount of increase, same goes when bitcoin

start to dumped down, there's also a domino effects that place most if not all of alts market to suffer.