Few old projects have made the ATH, like enj, doge, bnb, eth but most of the old projects are still far away from the ATH. Can we call the current situation bullrun for altcoin? I think no. Most of the times, it’s the affect of bitcoin rise.
So, when are we having altcoin bull where altcoin will be outperforming bitcoin? Or no more such things happening at all?
Because some old projects don't even have the reason to exist if there's that prolonging coin that will surely do the same as what you mentioned in the OP.
Indeed most of it are affected in Bitcoin's price movement, and I can see that in my own vision as a crypto investor.
When I think of buying, I feel like having a quick peek in the alts if there's more opportunity to buy at. I see ETH and all the following coins and then I do buy for ETH then might not consider buying coins in the lower rankings.