Quote from: jjdub7 on Today at 12:07:49 PM

Quote from: btcltcdigger on June 08, 2021, 01:21:48 PM

Quote from: KingsDen on June 08, 2021, 09:54:52 AM

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.

It's easy to find the logic on why altcoins move according to bitcoin's movement. You can simply look at the dominant rate, and knowing that bitcoin is the most invested asset in crypto, it's the king of crypto, and everyone trusts bitcoin more than altcoins. As we have witnessed during the bull run, altcoins have some decent increase because bitcoin was bullish, people just find an investment alternative as they are confident bitcoin will not dump and altcoins are more profitable to invest in short term.