Hi all!
With bitcoin flying to the moon, a lot of people expected a (huge) crash. In perspective of other crashes, how will the price of altcoins react when bitcoins drops to say $6.000? Will altcoin go up or down?
It's hard to say. If money flows out of
all cryptos then altcoins will be affected as well, and since bitcoin is the number one crypto i think that this is the most likely scenario to happen. Bitcoin will be dumped, alts will get dumped, but at a lesser scale.
There are alts that have been historically been associated to fiat more than BTC, though. One example would be monero, and even ETH.
These coins will be hit the least, and will probably rise in BTC valuation.
Last time btc dump and dip it dragged the whole alt market down with it. I think it's probably better to keep money in tether or fiat and wait for buy in unless something like the "flippening" happens.