Post
Topic
Board Bitcoin Discussion
Re: How much does Bitcoin affect other cryptocurrency?
by
leonair
on 17/05/2023, 04:34:06 UTC
I put it to us that Bitcoin influences all cryptocurrency. Every other coins are dependent on Bitcoin. Once Bitcoin price increase u see other coins increasing and once it is down they go down with it.
The reason for the decrease in price of other cryptocurrency coins with bitcoin is that almost all coins are listed on the exchange in bitcoin pair, so if the price of bitcoin decreases or increases, it automatically affects other altcoins. For example, if the price of a token is 100 satoshi, then if the price of bitcoin increases, it will definitely increase relative to the dollar, if the price of bitcoin decreases.  The price of that token will fall against the dollar. this is how the price of the token in the market fluctuates with Bitcoin