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!
No strong data such as bitcoin versus altcoin, so why is everyone hoping that bitcoin will get stronger, because we know that bitcoin has a very strong community, which makes all altcoin prices fall, even bitcoin down, still altcoin will get the impact with all altcoin prices, which do not have a very strong community, so this is why the bitcoin is suspended to date ...