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Why the price of bitcoin affects other cryptocurrencies as well?

  • Thread starter Thread starter Good-Person
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Good-Person

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Bitcoin is a very important cryptocurrency. In fact, many people also believe that it is the leading cryptocurrencies and this might be one of the main reasons why it might also have an effect on the price of other coins. So, what is the actual reason behind this?
 
IN the past, when bitcoin gained value, altcoins would lose value and when altcoins gained value, bitcoin would lose value. But these days when bitcoin gains 10 X, altcoins will gain 20x.
 
Residualearner said:
Bitcoin is a very important cryptocurrency. In fact, many people also believe that it is the leading cryptocurrencies and this might be one of the main reasons why it might also have an effect on the price of other coins. So, what is the actual reason behind this?
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I have always been asking about this but I have never gotten a response but I hope to read what other people say about it
 
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