Most of the speculators before and even now are saying that if Bitcoin goes up, then altcoins goes up as well and good projects perform well. How true are these speculations if there are different technologies or plans for each cryptocurrency? And the fact that bitcoin is not even the first cryptocurrency.
The thing is that most of these altcoins arent paired with fiat but with Bitcoin only hence if Bitcoins price go up or down then it would affect them. Although Bitcoin might not be the first but the thing is that it had given itself a name and been the most dominant coin in the market for years now. No coin had been able to lose its dominance even for a second this past few years. The thing is that it is not a speculation and the moment you labeled this as a speculation means that you havent familiarize yourself on how the cryptomarket behaves.