The rise in the price of BTC (Bitcoin) has certainly had an effect on the market. With its increasing value, there has been a surge of interest and investment in this digital currency. This has led to a ripple effect on other cryptocurrencies as well, driving up their prices as people seek alternatives to Bitcoin.
Furthermore, due to its global reach and impact, fluctuations in the price of BTC can also have an influence on traditional financial markets. For example, when BTC experienced a sharp decline in 2018, it also caused stock markets around the world to drop.
So guys what are your thoughts about current situation.
When bitcoin moves, the whole market gets shaken, and this is normal due to the influence of bitcoin throughout the industry. All the major altcoins have a pair with bitcoin so when a drop in bitcoin happens the whole altcoin market gets affected. Current sharp raise of bitcoin price also causes the raise of many low cap altcoin. BTC, Stocks are somehow related to each other and that is why we have seen that when there is a decline in the stock market, the bitcoin price also makes a correction with it.