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?
I think as long as it is classified as Crypto, it will always be correlated with Bitcoin
Bitcoin is like the USD of Crypto where most Crypto are paired to /BTC
Despite you might see pairs that are trade across pairs like ETH
Remember that ETH is still paired against Bitcoin
I do agree on why Bitcoin and Alts is always correlated is because market tend to move in a cycle
Different market cycle has different ups and downs for each category
When Alts is on fire and when it tends to consolidate or cooldown, people would sell it for Bitcoin or stables before it make another run
Same to Bitcoin, when it is too hot to touch, people would diversify their portfolio to other coins to mitigate single asset portfolio