Since most of the major altcoins move up or down at the same time as bitcoin, aren't they all controlled? How does it work?
For one, bitcoin drives the market, usually when bitcoin moves so do alts. But another huge factor is a lot of the alts are paired with bitcoin. So as bitcoin goes up in usd so do alts because the unlying paired asset went up. In short alts usually tend to always follow whatever bitcoin is doing. Skip the bull and just buy bitcoin and hodl
altcoins that don't follow the movement of bitcoin, for example bitcoin turns green, so I am suspicious of that altcoin, mostly occurs in new altcoins which afterwards only become ash coins. this seems to have become a culture for every altcoin to follow the movement of bitcoin, on the other hand the biggest trust factor in cryptocurrency which makes bitcoin the leader for all cryptocurrencies. We can see this if we pair bitcoin and altcoins with USD, so we can see the movement of the two