However, Bitcoin and cryptocurrencies in general are seriously threatening the existence of central banks, which are the balance that controls the economy. This prompted the Bank of Turkey to ban cryptocurrency payments mid-last month, effective April 30.
Such bans targeting cryptocurrencies could cause Bitcoin to decline further, while altcoins suffer less due to their smaller capitalization. The balance of difference between Bitcoin and the rest is likely to be corrected further if more crypto market bans are enacted such as in Turkey.