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?
Sometimes they move together, sometimes they move in opposite directions. Sometimes its the individual coins big news that creates special movements in the form of pumps or dumps.
But i think overall market cap is an important driving factor and if it increases constantly then we have a really good chance for the increase in price of most of the coins secondly the overall market sentiment also sets the direction of the market.