Post
Topic
Board Bitcoin Discussion
Re: How much does Bitcoin affect other cryptocurrency?
by
coupable
on 18/05/2023, 23:56:39 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.
While it is true that Bitcoin often sets the tone for the market, it is essential to acknowledge the diverse and independent nature of each cryptocurrency. Rather than being solely dependent on Bitcoin, these digital assets have unique features, use cases, and different communities that contribute to their value and growth.
Consider the emergence of DeFi projects or the rise of blockchain platforms facilitating smart contracts and Dapps. These advancements prove that cryptocurrencies are not just reliant on Bitcoin's movement but can thrive independently based on their own merits and propositions of value.