It's important to keep an eye on Bitcoin, as it has a significant influence on the entire cryptocurrency market, especially memecoins. Several factors contribute to Bitcoin's price volatility, including supply and demand, availability, competition from other cryptocurrencies, investor sentiment, and even media coverage.
The magnitude of Bitcoin's price changes can be much larger compared to other investments, and its volatility can be driven by investors' fear of missing out on significant price movements. So, if you're invested in memecoins or any other cryptocurrencies, make sure to keep an eye on Bitcoin's price movements.
