I just had gone through cryptocurrency exchange where i find something that totally shocked me. I had seen many altcoins price down ( ERC token) which are listed on exchange. IDK what is reason behind it ?
Maybe because of Bitcoin price. It may carry on in future if bitcoin price with increasing same rate.
Absolutely it is due to the reason of the increase in the price of the bitcoin . This is a usual thing we can see in the cryptocurrency market that when any big coin pump high then the price of the another coins get down , specially the case of the bitcoin is really unique that when it's market small increase then the value of the altcoins get down .
Here the reason to get down is because people sell thier altcoins for the bitcoin , increase in the price of the bitcoin clearly shows that the demand is increasing and to complete the demand of the bitcoin people sell thier altcoins and make money .
Well currently price is increasing of the bitcoin , and we are facing big loss in the altcoins , so we should hold those coins otherwise we will loss everything due to panic sell , here already I made 0.06 btc loss in 3 days , hope the market of the bitcoin will get stable and I will recover my loss .