I want to understand if all altcoins are built upon the foundation of BTC. This is because when there is severe crash of BTC, all other coins, I mean all, also crash.
Is there no independence in the cryptocurrency world?
Thank you!
This works organically, when the price of Bitcoin increases the price of altcoins goes up and this cycle works without anyone controlling it.
Bitcoin demand and marketcup affect everything, such as the BTC/ETH pair and many others, altcoin prices are likely to rise as happened to YFI coin in 2020, when the price surpasses BTC, it happens because the hype from the DeFi platform has started at that time