Can someone tell me why the Alt coins price is affected so much my bitcoin price? I feel.like I'm investing in excellent altcoin projects but due to bitcoin they just seem to plummet........argggggg. Many thanks in advance
For me I can see that altcoins and bitcoin is not connected, "sometimes" why? it is because some altcoins stands independent because they have different investors who choose to hold, sell and trade which like to call marketing contro.
Yes it is a fact that sometimes when bitcoin goes down the specific altcoin goes down as well but that can be changed due to investors who seek to buy the specific altcoin they want.
To understand it, sometimes altcoin is independent and not it is because of the people who hold and buy altcoin.
In short they move because of the people who manipulates the market of the cryptocurrency.
Yeah I don't understand why people seem to think that they are directly connected. They have patterns, they follow similar paths sometimes, but no, they are not the same asset. Sometimes one goes up while the other goes down, but usually they aren't too far from each other. Just like silver and gold.
Altcoins have a lot of risk to be manipulated because the market cap is so small. Anyone with a few hundred thousand lying around can jump into a lot of different altcoins and smash the price around. Or just take the whole thing over with a 51% hack.