Watching the markets closely and I find it interesting that while BTC has been trending up slightly over the past week, the majority of other alts are down or just wavering...could this be why BTC is trending up? Everyone is focusing on that? I thought it was interesting as normally we see everything move in tandem together but this time I'm not sure whether to invest in any alts given they seem to be going their own way...
Altcoins is a competitor of bitcoins, most of the people who are holding bitcoins is just exchanging their alt to btc which makes the volume of alt to increase and bitcoins demand to increase.
Yes that is right that there are a lot of altcoin, but it is for clear not a single altcoin can compete with bitcoin. bitcoin is the first choice of the people, those people who want to trade other altcoin, even they use to convert bitcoin to trade that currency but most of the people always hold bitcoin and wait for the best time to sell.