Bitcoin's Dominance over the Cryptocurrency Market

This last month has been very volatile with Bitcoin's hard fork concerns causing a major downturn in the market despite many people believing other cryptocurrencies would be seen as a 'safe haven' from this downturn.

So what does this mean? It means that Bitcoin is still seen as a confidence signal in the cryptocurrency community and that the price of a significant number of alt coins is dependent on the price of Bitcoin. With BIP91 reaching 80% support it seems that a hard fork will be avoided at this point however there will be more to come if you have a look at the image shown below:

It looks like the next volatile period will come November 5th, but a lot can happen in that time frame so we will see.

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