The price of BTC has massive impact on the price of ETN just like it does with ETH and LTC but it also triggers the pros to dump or buy decisions magnifying many altcoin price drops and climbs. Today when BTC jumped $2k very quickly many dumped ETH, LTC and ETN and that caused them all to crash at exactly the same time as they wanted to ride the quick BTC climb.
See this image:
https://ibb.co/b6CoH6BTC top Left - ETN top Right
ETH bottom Left - LTC bottom right
My quad image 43" 4K monitor
Notice how all three coins dropped at the exact same time with almost the exact same pattern making them all look like the same coin. Many people don't equate BTC's direct impact on other coins and don't take that into account when the price swings and people start dumping or buying depending on BTC's price.
Hey fella, ETH, LTC and ETN are cross paired with BTC that's why it's quoted as ETN/BTC, just like you get with Forex GBP/USD etc...
- When BTC drops altcoins traded AGAINST BTC will rise.
- When BTC rises altcoins traded againsts BTC will fall.
THIS IS NOT PEOPLE DUMPING! ^_^ Think of it like a seesaw, if one side goes up the other MUST come down.