I have watched the market and the price of bitcoin is going up, and I think and also usually if bitcoin goes up then the altcoins usually go up in price, for example if btc goes up 3% then altcoins always go up in the range of 7%. but what I see this time is not like that, for example if btc goes up 7% then the altcoin goes up only 3%.
and I want to ask you all what caused the market situation to be like that? and have people started distrusting altcoins or what?
yes, usually Altcoins also go up when Bitcoin prices soar. but only certain altcoins went up, not all altcoins moved on the market. usually those who follow in the footsteps of Bitcoin are Altcoins that have potential such as ethereum, cardano, Bnb, and matic. i noticed only those altcoins follow bitcoin
Whenever I look on and analyze BTC/USD chart I discovered that whenever there is a massive pump or dumb in the price of Bitcoin a similar pattern is always experienced or noticed in almost in the price charts of altcoins thus these proved that Bitcoin is the sole determining factor of all the prices of altcoins except some pump and dump meme coins that is why in any Bitcoin bullish run there are a lot opportunities offered by investment in some selected altcoins whose price actions is similar with that of Bitcoin.