I was looking at the price history of the top 50 coins and they all seem to have very similar price charts. They all seem to have spiked up the first half of this year even if they have been around for several years. My question is what caused all these altcoins to surge up in value so much?
The most simple explanation is that there were many new investors willing to put their money not only in bitcoin but also in ETH and the other altcoins, so all the coins pumped simply because it was impossible for them to not pump with the amount of money in the market.