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?
Since the term altcoins includes thousands of coins it is difficult to take such a wide generalization, new coins for the most part are not correlated with bitcoin as they move in price depending on their own internal dynamics, if the coin is good or there are pump and dump groups behind the coin it goes up in price regardless of what bitcoin is doing, and if the coin is bad it crashes independently of what bitcoin does, however I will agree that the major altcoins with the exception of stable coins are heavily correlated with bitcoin as that is what my studies have showed me when I was investigating this subject.