Many altcoins are actually shitcoins, with little to no innovation involved with the project. They're clones of already superior models. Most of, if not all of these shitcoins will deflate during this culling period on the market. Bitcoin is the founding cryptocurrency, so naturally, many altcoins are tied directly into Bitcoins market movements, so when Bitcoin climbs, shitcoins climb and when Bitcoin falls, the shitcoins fall as well.
    However, not all altcoins are shit. There are many projects that offer real innovation, like new algorithms, faster transactions, smoother network experiences and even new features other coins may not have outright thought of. Most altcoins are traded for Bitcoin, then from bitcoin into fiat. If faith dies for Bitcoin, many coins will die as well.