What do you think of Bitcoin influence in the crypto market ?

[Asiska02]

It is generally known that Bitcoin has a strong hold in the crypto market and it is very certain this strong dominance will continue for a long period. This is due to Bitcoin’s market capitalization taking over half of the entire crypto market which resulted in BTC having the power and influence on the market performance of altcoins in general. I mean BTC price movement affects the entire market. Do you think it is a good thing for Bitcoin to have this influence ?

We may not want Bitcoin to have such big influence in the market but it has already taken that pace ahead of others and nothing can be done about it again at this stage. The good thing is that bitcoin still remains very dominant and leading all crypto space in good narratives and shape. If it was any other cryptocurrency that might have lead the space, we may not live to see the cryptocurrency market  so far and might have crumbled. It is a good thing that we never had the choice to chose between any crypto assets to lead the space, and bitcoin already lead the way.

[Blaze]

We may not want Bitcoin to have such big influence in the market but it has already taken that pace ahead of others and nothing can be done about it again at this stage. The good thing is that bitcoin still remains very dominant and leading all crypto space in good narratives and shape. If it was any other cryptocurrency that might have lead the space, we may not live to see the cryptocurrency market  so far and might have crumbled. It is a good thing that we never had the choice to chose between any crypto assets to lead the space, and bitcoin already lead the way.

However, it can be safely stated that Bitcoin is an invaluable leader in the cryptocurrency community and there is no one who can argue with it. It gives many people the opportunity to enter a sphere which before was very limited and Bitcoin is the dominant coin. Yet, it has grown from the introduction with different innovations from other currencies and projects of the crypto world. This also proves that market does not necessarily rely on one leader but it can have many instead. Bitcoin sets a stable basis but leaves the freedom for the growth of the ecosystem and its improvement according to the condition of the market.