I have seen Bitcoin go down in the last few days. And it also affects the price of other coins. As a beginner, I would like to ask the seniors in this forum. Why does Bitcoin greatly affect the ups and downs in the price of other coins?
Thanks in advance.
It’s quite simple man. BTC is where it all began. Without BTC, all of these cryptos right now don’t exist. Bitcoin is the freaking mother of all cryptocurrencies. It is why Bitcoin is so dominant and influenced a lot of cryptos (but not all depending on the trends, circumstances, etc.).
Wherever BTC goes up or down, most of the altcoins will follow. However, I believe that one day these altcoins would never be relying on BTC anymore.