I am aware some of you might not agree with my view but I strongly feel that the value of altcoins are correlated to the value of bitcoin and we have seen this in the past as value of altcoin trends according to the momentum of bitcoin, but now the real question would be "why the value of altcoins are still trailing behind wherein bitcoin has increased by leaps". All we need is a bit of patience as crypto will not go as per our expectation as it's not scripted and many might have noticed that the value of ETH was all-time high when the value of bitcoin started to dump after the 2017 bull run.
What's your opinion guys?
The price movement is actually correlated if you observe the Bitcoin dominance chart. Bull runs in the market are actually triggered when there is a decline in bitcoin dominance.
In 2017, the dominance fell below 50%, triggering a bull run not just only for the alts but for the whole market.
Earlier this year, the dominance fell below 58% and it also triggered a short lived alt season, but I still hope this alt run is not yet done.
https://www.tradingview.com/symbols/CRYPTOCAP-BTC.D/