đ Why do some crypto markets rise and fall with Bitcoin?đ
Ever notice how when Bitcoin goes up or down, many other cryptocurrencies follow suit? Hereâs why: Bitcoinâs dominance! As the largest and most influential cryptocurrency, Bitcoin often sets the tone for the entire market. When BTC goes up, it boosts confidence across the board, pushing altcoins higher as well. đ
On the other hand, when Bitcoin goes down, market fear kicks in, pushing many coins lower. Bitcoinâs massive liquidity and its role as a trading pair for most altcoins create a domino effect. This means that when Bitcoin moves in either direction, the rest of the market tends to move along with it.
đĄ Understanding Bitcoinâs movement is essential to staying ahead of the curve in the crypto market. Keep a close eye on BTC and youâll have an edge in predicting broader crypto trends!