I want to understand if all altcoins are built upon the foundation of BTC. This is because when there is severe crash of BTC, all other coins, I mean all, also crash.
Is there no independence in the cryptocurrency world?
Thank you!
Most altcoins have no real connection to BTC, except their pairing on exchanges.
When BTC starts dropping, people usually exit alts and try to buy BTC at lower prices, thus causing a cascade effect
This, in my opinion, is the most accurate explanation of the movement in the altcoin market. We all know that they are not really related to Bitcoin, but they always follow the direction of the price of Bitcoin.