How exactly do altcoins gain value? There are so many altcoins out there and honestly you can see connection among these in terms of the drop and rise of price.
I think bitcoin and altcoin are connected because when the bitcoin got red the altcoins also got red and when the bitcoin got green also altcoins got green. Also the thing is, before you can convert your altcoin to your country`s currency, you must need to convert the alt to bitcoin first, thats how cryptocurrency works on our country. So they are really connected, you cannot earn from altcoin here when there is no bitcoin.
Absolutely, alternate cryptocurrencies are currently base from the demand and supply of bitcoin so what ever comes first if the demand in the market are low they are pumping of value so makes it (green) and if the supply are high or more in the market they are dumping makes it (red). Instances of volatile is always concern they are normal.