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.
Bitcoin will always influence the crypto market as a whole. In fact, we have seen it from the start that the majority of altcoins also continue to follow Bitcoin's movements. But the increase occurred last week when bitcoin suddenly rose from 40 to 44k. At that time, most altcoins didn't seem to move much and only sideways. But after Bitcoin stopped rising or was in a sideways state, then Altcoins slowly started to rise. So altcoins often move too late to follow Bitcoin's rise. but in decline everything always moves together.