I saw that there is 60% increase in the price of verge coin in last 24 hours. When I searched this coin official handles, the Twitter handle has posts from last year. There is no development and still the coin is blowing up so fast. Are the altcoins now moving just on speculation ?
I can only tell you this: when Bitcoin rallies in the market, it is for sure that many of the top altcoins in the market will also be pulled up. But the altcoins that are not included in the top will not be able to keep up with the rise of Bitcoin, and they can only pump and dump.
Unlike the top altcoins, it's not like that, as if their movement depends on the rally of bitcoin as well. I've been noticing that for a few months. And that is also up to you if you believe the speculation of other community investors in this field of crypto space.