Can anyone here explain me how the cryptomarket works? I have been following the coinmarketcap for months and one thing I observe is when one coin move up almost all coins moves up. Is that a normal thing in crypto? Are coins are dependent to all coins unlike in stock market where one stock is totally independent to others.
Whole altcoins depend to Bitcoin. If Bitcoin increase or decrease Altcoins make that bitcoin did. King of the Cryptocurrency is Bitcoin.
I think not all the altcoins are depends on the Bitcoin only few of the coins are follow the Bitcoin other coins depends our own project development. Most of the investors are looking for Bitcoin because it is rule the cryptocurrency. Everyone know the crypto market strategy it depends on the supply and demand of the coin and market capitalisation is important role in the crypto market.
and no dependence on bitcoin. This is indeed so. But you can also note the general state of the market, when something happens, and that is, dependence on each other. You can recall the situation, the person when the price of bitcoin collapsed, as many people began to buy alternative coins for bitcoin to avoid losses and so the price of other coins crawled up sharply.
