Bitcoin is the standard. Bitcoin is the proof that Crypto is alive and will stand the test of time. My crypto portfolio is 75% Bitcoin, ever since I started and I know plenty of people still has bitcoin as their major cut of the pie. What this show is more that just belief, its TRUST. People trust bitcoin now. People know that its no longer a scam or a dream, it works and its here to stay.

BTC has many similarities with conventional fiat, but also offer advantages. They can be used for payments and as a store of value. They need to rely on consumer trust in order to work as a means of exchange. Main thing about Fiat is they its controlled by banks. BTC on the other hand comes form mining and no one controls it. BTC is tamper-proof and can only be spent once. Cannot be reverse. To answer the topic question, I say BTC cannot exist alone. It needs fiat money to validate its importance or strength. Fiat is the standard and BTC or crytpo will be the Premium.

Based on my personal experience. When I started off in the crypto space, I immediately engaged in leverage. Leverage did do me well in the early stage of trading. I was riding the uptrend, which mean all green in my portfolio. Things started to crumble when big drops came. I came to a point where I was already gambling. I started from 2X leverage until I was using x25 to x50. I ended up losing pretty much all of my crypto investments. It took me a long time to get back on my feet. I joined a few cypto community and learned that I was not alone. I've seen SO MUCH people who were in the same situation.

Going back to the topic, I believe this is a major deal on why big drops happen. A big chunk of new investors and very new in crypto and in trading in general.

Lesson learned, I am no longer using Leverage on the platforms I use.

No expert here. Just a regular guy.

Thanks