So guys what are your thoughts about current situation.
That is what happens every time when we see the price in the bitcoin price, but to me, the effect is not completely reflected over every cycle. In the previous cycle if Bitcoin jumps 30% then most altcoins will surge 30% in average but now its not even 10% but random coins jumps 100% in 24 hours and in the next few days it will bleeds out which means the altcoins are only used by bump and dump investors and not for any real use cases.
As the price of Bitcoin rises, in the same way the prices of other altcoins increase. Because many people try to find alternatives to bitcoin investment. They become interested in investing in those coins. However, when the price of Bitcoin increases, other stock market investors are also encouraged to invest in Bitcoin. As a result we can see the movement of money but it doesn't have much effect because other stock markets have a lot of capital. If we look at cryptocurrency and forex market stocks there is a big differences between the two. So there will be no much effect on the market.
People are not just investing in Bitcoin but also, they are accumulating Altcoins. Why? Because they noticed that altcoins had also the potential to rise when Bitcoin pumps. What happened to Bitcoin has a manipulating impact on the entire crypto market, once it pumps, the rest will follow. In fact, even shitcoins have the chance to rise XXX. As the halving comes closer, we expect of increasing demand that would also pump the price. Everyone is preparing for the ATH and the bull season and is expecting another great year of crypto.