Not exactly, I doubt that there is any correlation between Bitcoin and Altcoins. Usually what I have seen is that when Bitcoin rises, Altcoins experience dip but when bitcoin is able to sustain its growth, altcoin start appreciating too. When Bitcoin falls, there is fall in altcoins as well. They not always surge.

But this time Bitcoin price ridiculously increased which brought whole altcoin market to serious dip. But market will eventually recover after fork. I don't understand why people even jumping to Bitcoin for bitcoin gold which is basically a shit coin and I doubt it gonna have any proper value.