So I have been asking this myself for the longest time and I have asked many people, but no one really had a good explanation to the following phenomenon:


When Bitcoin goes up in value     -> alts go down
When Bitcoin goes down in value -> alts go down
When Bitcoin goes sideways        -> alts go up

Why is it that when Bitcoin goes down alts go down too? They are traded against each other ??!

Basics : Trading x against y -> if x goes down in value it means you can buy MORE x with Y or in other words x goes down y goes up. But this does not apply here for some reason.

Hope you can help me out with this burning question!