Does Bitcoin affect all the cryptocurrencies?

Hi there! I hope I can find here answers to my questions. I would like to say in advance that I’m not a finance expert, especially if we talk about bitcoins and other cryptos. I would like to invest in cryptocurrency. That’s why I’m looking for a piece of advice from an expert. Please, explain to those who don’t have any financial background.

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As I’ve mentioned above, I’m not a financial expert. I think I’m a bit too late to invest in Bitcoins. Despite their recent drop on the market, they are still pretty expensive. I don’t think that too many people can invest that much money into bitcoin or start trading. Despite that, I’m still looking for some opportunities for investments. I know it because news about bitcoins was all over the media a couple of weeks ago. There were many discussions based on this topic, and I try to follow information related to it.

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Another, as for me, the crucial thing I’ve heard is that most cryptocurrencies somehow depend on the bitcoin value. Honestly, I’m not even sure if it’s true or not. But on media, I’ve seen a couple of times that after a dramatic fall of bitcoin on the crypto market, we should expect the drop of value for other cryptocurrencies too. One of the sources even stated that it’s gonna be temporary, and it is a gap for new investors to enter the market. As I have already mentioned, I’m not gonna invest in Bitcoins.

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Despite that, I’m interested in another cryptocurrency that gonna be launched soon. I’ve recently run across the information about establishing the BLM crypto coin. To be honest, I would be interested in investing in this currency, for my own personal reason, rather than considering it as a financial opportunity. Still, I don’t wanna lose a lot of money on air. I wonder what do you think of this project? If you check the site, everything seemed pretty detailed. Still, I wanna hear the opinion of someone more experienced.