no it  can NOT. because altcoins have no place in the real world and in world economy. the altcoin place is on exchanges and for pure speculation purposes and that is what affects their prices. altcoins depend on hype and in one word on "pump and dump" aka manipulation.

of course there are some other factors such as bitcoin price and it is even possible that economy is also affecting them since some newbies may come in the market thinking they have found an investment haven but in the end the reality will hit everyone and they know it is all pump and dump.