Ehhh, as most exchanges sit today, all alt coins that do not have a USD paring on something like coinbase get their value directly from bitcoin. So if bitcoin goes up, the value of your alt coin goes up. Owning a lesser known alt coin (for now) gives you the benefit of BTC value AND the coin/tokens value on the market.
This can all change if more parings comes to coinbase etc but for now, this is a pretty closed market based almost solely on BTC
that's not that accurate @thinkingishard. If BTC's price is dramatically increasing, the alt;s price will go down. At this time, XRP worths 9300 satoshi. But if BTC goes to 100k, then XRP cannot stay at that price, as it will mean that itll worth way more than it's price in usd.
true if that large of an increase in BTC were to happen then the BTC/XRP would go down but I don't think it would be at the same rate as BTCs rise. If you look at the "boom" back in December as BTC hit new ATH the alt market came right along with it. you could almost say it was a double whammy for those that bought in then because the BTC/XRP rose just as fast as USD/BTC so people paid more for the BTC in USD and then paid more in BTC to get the XRP. That example is probably just a once in a lifetime example of extreme FOMO maybe?
Anyways, you're right, if BTC goes up to high to fast then the BTC/Alt coin value should go down. but because the USD of most alts is determined buy Alt/BTC/USD, as BTC/USD goes up, Alt/USD via BTC would go up, just not as fast, and the longer BTC goes up the more likely it is that atl would flatten and start to go down.
this hurts my head, but is good to write down and discuss ... thank you for the feedback
You are correct, but if you closely monitor the dates, you will notice that it is the day that the BTC crashed that the ALTS started pumping. Beeing more accurate here, ALTS started pumping after 7-12-2017, while BTC crashed that day.