Bitcoin Influence Over Altcoins

_{(Chart by TradingView)}

These are graphs showing the price movements of bitcoin and some altcoins, namely Steem, SBD and Tron, over the past year. As for the conclusions, we can conclude from this chart that there is a correlation between the price of bitcoins and the price of altcoins.

First of all, until last October, we saw that the price of bitcoins hardly ever moved at the same level. Similarly, the prices of the Steem, SBD, and Tron altcoins seemed unchanged or changed slowly. Then, around October of last year, the price of bitcoins began to rise. This was followed about a month later by an increase in SBD prices. And finally, in February of this year, Steem and Tron went up in price.

Then, in late February, bitcoin experienced a significant price correction. And we see that at the same time Steem, SBD and Tron also experienced a similar price correction. Finally, in mid-April, bitcoin's price corrected again and dropped quite a bit. So did the Steem, SBD and Tron altcoins, with the price also dropping quite significantly.

And now the bitcoin price looks choppy. And what about our altcoins? It turns out to be the same. Steem, SBD and Tron also look choppy.

So we see that bitcoin prices tend to be followed by altcoin prices.

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