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Author Topic: Bitcoin is the influencer  (Read 201 times)
pooya87
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September 23, 2021, 05:50:43 AM
 #21

It is simply because Bitcoin is the first and pioneer cryptocurrency,
You are wrong. There were other attempts before bitcoin trying to create a "digital money" and they all failed. Then bitcoin came along and was successful in created a decentralized and secure money so it stuck around and grew.
There is nothing stopping a new cryptocurrency to come along and become big either, the fact that it still hasn't happened even after 12 years is because nobody has bothered to innovate!

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Mpamaegbu
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September 23, 2021, 04:18:13 PM
 #22

I have seen Bitcoin go down in the last few days. And it also affects the price of other coins. As a beginner, I would like to ask the seniors in this forum. Why does Bitcoin greatly affect the ups and downs in the price of other coins?

Thanks in advance.
This is a fact that altcoins bleed whenever Bitcoin bleeds. However, in rare instances some alts break loose of that grip. Last week, while Bitcoin dipped I watched keenly how Tron (TRX) continued to be on the rise. Perhaps it was because of the Tronpad launchpad that was ongoing at the time and TRX was the official staking coin for Tronpad. Based on that observation, one may be right to say then that Bitcoin crash doesn't affect tokens which are official tokens for usecase projects. Even as I type this, TRX is now above 9 cents as against 5 cents it was a few days ago.

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taufik123
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September 23, 2021, 08:16:20 PM
 #23

This is a fact that altcoins bleed whenever Bitcoin bleeds. However, in rare instances some alts break loose of that grip. Last week, while Bitcoin dipped I watched keenly how Tron (TRX) continued to be on the rise. Perhaps it was because of the Tronpad launchpad that was ongoing at the time and TRX was the official staking coin for Tronpad. Based on that observation, one may be right to say then that Bitcoin crash doesn't affect tokens which are official tokens for usecase projects. Even as I type this, TRX is now above 9 cents as against 5 cents it was a few days ago.
Tronpad had a good hype at that time, several IDO projects were launched on Tronpad and also BSCPAD as the main launch. Tronpad is not the official platform of Tron ( TRX ).
Bitcoin crash time Some altcoins did survive, not only TRX, but SOLANA was also able to hit a new ATH when all the altcoins crashed. there are some moments that make them survive. but when Bitcoin crashes, the altcoins that initially survived are no longer able to and eventually crash too.

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MaDeidre
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September 24, 2021, 06:09:10 AM
 #24

Bitcoin is the leader in cryptocurrency. Any fluctuations in Bitcoin will affect the cryptocurrency market. It is not ruled out that some people believe in FUD and panic and sell the coins in their hands.
Alisha-k
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October 02, 2021, 11:44:47 AM
 #25

This is because most of this many coins that get affected by Bitcoin price are built upon Bitcoin smart contracts  and as such prices of those coins gets affected by Bitcoin price since it is the primary coin in which the other coin gets it's originality from. Bitcoin remains the first digital asset and will just remain that way

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