Do they really? I often encounter this statement. And i have no idea as to why. This past few days, bitcoin is on the rise and most certainly than not altcoin's price surely follows. I am not saying this is bad but altcoins have very little in common with bitcoin. And they are certainly not carbon copies of bitcoin either. Why the heck is their price so closely connected despite being so fundamentally different?
In my opinion, technology and prices do have an effect, but maybe they are two different things.
Crypto will always be determined by consensus, although one of the variables is technology.
When Bitcoin is pumped, many fiats enter because they expect the market to be bullish.