I am very new to VSTS platform. In one of my project, I am trying to integrate the bitbucket source control to VSTS. By this way I should be able to see the updates made on
When you connect your Bitbucket account to VSTS, you are setting up build triggers to run automated builds on pull requests or merges. This is what is called "continuous integration" in the DevOps world.
Consider reading the documentation for more information on this topic.
You will continue to "manage" your Bitbucket repos on Bitbucket. It's totally separate. If you want to manage everything through VSTS, you should import your Bitbucket repo to your VSTS account.