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.
As a king it controls the younger ones who were just given birth. The altcoins are just need to the system and they have not known the left and right of the ecosystem so they have to follow the step of their father Bitcoin and their mother Ethereum. And direction Bitcoin follow they also follow, when the price of Bitcoin rise they follow and the price reduce they reduced too. Bitcoin has a great positive effect in the cryptocurrency market.
Those who are investing in altcoins also monitor the price of Bitcoin to see their coin improvement. Last week Ethereum price was $2340 and Bitcoin was $44+k now that Bitcoin has come down, the price of Ethereum is $2100 it has come down again and other coins are also down.