I have noticed it when actually the bitcoin price is rising up the cryptomarket also will. Is that because of bitcoin is directly proportional to the other cryptocurrency? so that when bitcoin dumped the other crypto also will dump? Whats your opinion about it?
It would be different if all coins were pegged to let's say the dollar but everything is pegged to btc, all the alts can do is look if btc went up or down and adjust the price accordingly.
Yeah but not all of the crypto in the market is being pegged with BTC. There are others that uses the platform of other crypto like ethereum. Those crypto that uses the platform of ethereum will be directly affected if ethereum market price will move. This is why most of the cyrpto in the market that uses ethereum platform is now in bad condition for it has relatively drop to almost 10x. on its market price before the bear market.