As the price of BTC is increasing on an upward trend and falls only by few bucks, short-term Alternative Coin traders are crying blood. I believe it is due to the upcoming fork. How many more forks are we expecting in the future? It seems that through forks they are pumping the price of btc and once the price becomes stagnant they will start another fork.
Yes it's due to the upcoming forks, bitcoin gold and bitcoin segwit2x. It really helps the price of bitcoin to pump and so whatever the news is the price of bitcoin will be keep on pumping because of the free coins it made.
The profit that is giving us, we are the ones to decide on where are we going to invest that but the majority is deciding to put it to bitcoin.
And that's why the price of bitcoin is pumping because there's a lot of people that are putting that in buy order.