Cryptocurrency market is evolving. There are certain behavioural similarities between the stock market and crypto market. Like stock market crypto currency market also moves more on sentiments and less on fundamentals.
Moreover Bitcoin is the market leader in crypto space and leads the rally or down fall in the crypto market. If post 1st August, Bitcoin price reacts than it will certainly influence the rates of other crypto currency. If confidence is shaken in the market leader than it will definitely effect the confidence in the whole sector adversely.
Ethereum’s operative space is different from Bitcoin whereas Bitcoin is a store of value, Ethereum is a protocol and being fundamentally more strong than Bitcoin it may survive the shock but not to the full extent of its potential since it also belongs to the same sector.
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