Post
Topic
Board Nigeria (Naija)
Re: bitcoin affecting altcoins
by
Roseline492
on 15/11/2023, 13:31:40 UTC
Overtime i see that whenever there is a dip in the price of bitcoin, other altcoins tends to follow suit by also dropping in their prices and whenever there is an increase in the price of bitcoin, other coin as well increase in their value.
Of course the growth of altcoins is dependent of the survival of Bitcoin and even the reason why most people go for some other altcoins investment is because they believe that so long as Bitcoin continues to progress there would be every chances of many other altcoins also increasing on there prices.

That's why if you check very closely during the early time of this year Bitcoin price dip you will see that almost every other altcoins also follows Bitcoin dip and now as the price is peaking they are also coming up a bit by bit, so actually Bitcoin is the father of all cryotocurrency  and doesn't depend on other coin to grow.