Post
Topic
Board Beginners & Help
Re: why does the price of Bitcoin influence other coins
by
cryptoaddictchie
on 27/02/2022, 04:41:15 UTC
I really want to know why any time Bitcoin increases or go high many other coins will go high too and when Bitcoins drops many coins drops too.
 is it that Bitcoin is the backbone of other coins or their is something connected between Bitcoin and other coins.

please I need explanation.
For me its due to the market pairing. Of course those who have paired with btc on major market would be influenced by btc price since its related on trading. Most coins that has btc pair will likely also move the same with btc. There are other coins exception to these but we all knew it would be higher chances too to get affected.

Btc movement proves that other coins can be affected by it. Check out the chart of most altcoins and youll see some resemblance with btc.