well the Bitcoin is the leader, and alt coins tend to follow the leader. If Bitcoin is going up then the rest of the market must be healthy so altcoins go up.This is the basic mentality. The health of the market is psychologically dictated by leaders.this also happens with tech market also.other reason being as majority of Altcoins can only be bought by using BTC, not USD. That's one reason why they do follow each other in terms of the ups and downs.
Maybe we need several large exchanges using a different altcoin as the reserve currency.
You are viewing a single comment's thread from:
You're comparison with tech is well taken. The truth be told, it's hard for the rest of tech to rally if AAPL and AMZN aren't! On the other hand, if something really stands out on it's own, there is enough differentiation for a particular issue to run counter-trend to to big leaders. In the long run, most run with their group, but perhaps not to the same exaggerated degree as crypto.