Why do all altcoins move in value similarly regardless

[ashapasa]

Why do all altcoins increase in value or decrease together regardless of the quality of the coin. Is the market controlled by a few giant whales who plays the market according to there whims? Price movement of almost all coins are similar even up to hourly trading price movements. Is it people just behaving like sheeps or market manipulation.

[ApexEvo]

That's mostly weak hands and semi-new money(real new money is likely to be in BTC) panic buying and selling. Yes I do believe that those tendencies are most of the times started by big whales as plenty of these alts have at least a few holders controlling a substantial percentage of the total availability.

[puremage111]

Well one of the major reason is due to the price in  btc

As all the crypto are based value in satoshi


So usually if you see all greeen, you could expect the coins value to move together

Example

100,000,000 Satoshi Price = $1000

X cost 1,000,000 = $10

If 1 btc moved 10%

It will be $1100

Hence, X will move 10% since it is value in.satoshi

[jtalk]

Altcoins market are becoming semi independent easy by easy but it still have to face many things. Bitcoin's increase/decrease was having deeper impact on other markets few months ago. Now it only effect if the change in its value is extreme otherwise altcoins are performing by their own. We are in early stages of growing but in future every market will react differently.

[eternalgloom]

Well one of the major reason is due to the price in  btc

As all the crypto are based value in satoshi


So usually if you see all greeen, you could expect the coins value to move together

Example

100,000,000 Satoshi Price = $1000

X cost 1,000,000 = $10

If 1 btc moved 10%

It will be $1100

Hence, X will move 10% since it is value in.satoshi

This is the correct explanation, you can see it pretty clearly on coinmarketcap, the graphs of the btc prices show almost similar movement.
You do also see some outliers on there, especially among the newer coins.

[talkbitcoin]

exactly it is because of all the manipulations. the market is small with a very tiny orderbook and volume and then huge whales that get bigger with each pump.
then there are a lot of newbies who are desperate to trade and make money so they lose money! it is their greed that is guiding them and majority of them have never done a trade in their lives before and think they can get in and continue make money just because they made 1 successful trade during a pump!

[Idrisu]

Why do all altcoins increase in value or decrease together regardless of the quality of the coin. Is the market controlled by a few giant whales who plays the market according to there whims? Price movement of almost all coins are similar even up to hourly trading price movements. Is it people just behaving like sheeps or market manipulation.

Though markets manipulation is evidence in crypto currencies markets and we cannot really eliminate that now because of its market capitalizations. Because of the forgone reason we do see coins price always show price movement in one direction.