We have often witnessed that the growth of altcoin is associated with the growth of bitcoin as whenever there is a pump in the value of bitcoin we have witnessed green days for altcoins too but how long will altcoins be dependent on bitcoin? Do you think altcoin can do it alone and have it's own pump and dump without being dependent on bitcoin? What will it take for altcoin to prosper without bitcoin's involvement?
Altcoins can move independently from the price of bitcoin but for that they need very specific circumstances, they need the price of bitcoin to be stable but they also need a positive atmosphere so investors are willing to take risks, and when you understand those two factors then you can easily see that we do not have the necessary factors to see an altcoin season.
The price of bitcoin is not stable, it is going down and because of it people are not really positive about the short term prospects of the market and that is slowing down the market of altcoins.
it's entirely based on the supply and demand of the market, not the stability of bitcoin. Bitcoin has been stable for quite a few days now, but the alts have not moved up, which is saying that the demand for buying alts is not much, they are paying more attention to bitcoin. The Halving event has made bitcoin hotter and so is the alts market, it needs something that can appeal to investors to invest in it. for example, top alts offer good news about their new partner or superior technology products.
The price of bitcoin has not been stable at all just recently there was a huge movement, but when I talk about stability I think that you misinterpreted what I meant, the price of bitcoin needs to remain stable not for days but for months before we have any chance of seeing a growth in the market of altcoins.
If the price of bitcoin keeps moving then investors do not really have any need to look for any alternative investment because they can always hope that bitcoin will give them the profits they are looking for.