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.
This is a fact that altcoins bleed whenever Bitcoin bleeds. However, in rare instances some alts break loose of that grip. Last week, while Bitcoin dipped I watched keenly how Tron (TRX) continued to be on the rise. Perhaps it was because of the Tronpad launchpad that was ongoing at the time and TRX was the official staking coin for Tronpad. Based on that observation, one may be right to say then that Bitcoin crash doesn't affect tokens which are official tokens for usecase projects. Even as I type this, TRX is now above 9 cents as against 5 cents it was a few days ago.