Hahaha The price of Bitcoin always affects the whole cryptocurrency. Whenever the price goes down it takes some of the coins with it.
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Hahaha The price of Bitcoin always affects the whole cryptocurrency. Whenever the price goes down it takes some of the coins with it.
Not as badly as it once did thankfully, because a lot of the other coins and tokens are growing up. Like take Steem for instance, does it really need Bitcoin to go up in value, or to function... not at all. 🐳
Well that's true. The Steem price hasn't been affected that badly, It's been bullish over the past few months meanwhile Bitcoin went from 20K to to 10k. Some coins get affected because most people see Bitcoin as the main crypto currency, once the price drops people panic and withdrew from all other crypto coins. As soon as the price drops, the mainstream media fighting crypto is there to spread the news.
I know I'm a Steem fan, so this could be considered bias, but I find far more value in Steem then I do in Bitcoin, because I can actually use Steem to better myself and hobby... so it actually has purpose.