Post
Topic
Board Bitcoin Discussion
Topic OP
Why does Bitcoin seem to have a high influence over other cryptocurrencies?
by
Superdoctor
on 21/07/2022, 19:30:06 UTC
Over the years, I have noticed  that every time Bitcoin's price goes down other alt coins follow suite. And When the price of bitcoin increases, it’s expected that  altcoins  go up in price shortly after. Presently as bitcoin price reduced other altcoin prices was affected too. Fact is that Bitcoin has the most secured network and it was the first among others. No doubt some alt coins was made of bitcoins clone.
 But being  that a product can be the first of its kind to be made (just like Bitcoin)  and other companies may decide to produce similar product;( just like alts)  but that doesn’t mean the original product price and value will always affect others. So why does Bitcoin have such a big influence on other alternative cryptocurrencies.