- I just noticed that since Bitcoin is the most popular and useful in the world, when its value increases in the market, most of the altcoins that are often included in the top 100 list also increase their prices.
And when the value of bitcoin falls, the value of other cryptocurrencies also fall, meaning that the impact of Bitcoin is strong regardless of its price in the market.
I agree with you that Bitcoin has a significant impact on the entire crypto market. So When Bitcoin's price increases, many investors and traders may shift their focus to Bitcoin which can lead to a decrease in trading volume and demand for altcoins. As a result, the prices of altcoins can decrease.
On the other hand, when Bitcoin's price decreases, some investors may view altcoins as a potentially more profitable investment and may shift their focus from Bitcoin to altcoins. This increase in demand for altcoins can lead to an increase in their prices.
It's important to say that different altcoins can be impacted to varying degrees by Bitcoin's price movements. Some altcoins may be more closely correlated with Bitcoin due to similarities in technology, while others may have their own unique factors and couldn't be affected by bitcoin's movement.