There are many reasons why bitcoin and other coins price is where it is. When the price either directly or indirectly influence the marketcap the price either rises or fall like the current situation. These are factors that influence the price; source: Crypto Update
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Navigating the crypto market can be a bit of a maze, amirite? You got the right idea though, fam. A coin's price is hella influenced by its demand, and even its total supply. Those "shit coins" don't usually hold their value, ya feel me? But, you gotta keep in mind that the market capitalization is also super important, especially with Bitcoin's crazy surge in popularity. And, don't forget about the circulating supply of the coins up for grabs, that's a big player in the game of price fluctuations. If you do your due diligence, you can definitely make some smart investments in this complicated space, ya dig?