Over the years, I have noticed that every time Bitcoin's price goes down other alt coins follow suite. And When the price of bitcoin increases, its expected that altcoins go up in price shortly after. Presently as bitcoin price reduced other altcoin prices was affected too. Fact is that Bitcoin has the most secured network and it was the first among others. No doubt some alt coins was made of bitcoins clone.
But being that a product can be the first of its kind to be made (just like Bitcoin) and other companies may decide to produce similar product;( just like alts) but that doesnt mean the original product price and value will always affect others. So why does Bitcoin have such a big influence on other alternative cryptocurrencies.
When you are the first or shall we say that ones who had invented or had existed in terms of something having that revolutionary aspect likes decentralized and anonymous then this is something that cant really be forgotten and being the first would really be giving that huge impact and getting that main attraction or attention by the masses or by the community thats why whenever it do make out its price whether in bullish or bearish then it would simply be dragging out the entire market into the same path or trend.It might not be 100% precision since there are coins which are moving into different path but most likely this is really the case.
Reason? there's soo much trust and support from the community on bitcoin despite its tech or characteristics is less better than with those modern or new blockchains but people cant really just forget
on what this project had made out.
bitcoin is the first and powerful coin, that is why it affect other coin anytime it fluctuate.