#BitcoinKeyZone Why are cryptocurrencies tied to the value of Bitcoin?

Cryptocurrencies tend to follow Bitcoin due to its market dominance and influence on trust.

Why do people trust Bitcoin?

People trust Bitcoin because of its decentralization, growth history, security in blockchain technology, and its limited scarcity. Additionally, it is viewed as a store of value and a hedge against inflation.

Can Bitcoin's value decrease?

Yes, the value of Bitcoin can decrease due to factors such as market volatility, regulations, changes in demand and supply, or macroeconomic events.#