Can anyone tell me why all coins have almost the same price trends even though they have very different algos.
BTC is the initiator it seems. When it rise, every other crypto coin rises. Very predictable.
So if BTC becomes $500k as predicted by some, can I say EOS or Eth and all other coin will increase in value exponentially too?
Or am I are lead to believe the fluctuation is independent. The price graph trends says otherwise.
Go to sites like Coingecko and see the graph trends in one page. Looks more or less similar.
The thing is BITCOIN and ETHEREUM have trend changes similar to stocks because the market is driven by people in both cases if everyone sees an increase in one crypto currency or ICO they think hey I should invest in others and vice versa when their is a drop in the price of BITCOIN or ETHEREUM this especially in the Blockchain market causes similar fluctuations across the board.