Hi all,
I have been checking in
https://coinmarketcap.com/all/views/all/ for the last weeks (like the last 2-3 months), and checking the graphs of many coins and I remember that 2-3 months ago most crypto coins were going individually (one will go up +21.3%, other -18.42%, another one +52%, other -25%, and so on, independtly what bitcoin did that day). But, now if you check the graphs at
https://coinmarketcap.com/all/views/all/ and watch the graphs (on the right) you will see that the first 200 coins have exactly the same graph than bitcoin, and if bitcoins goes up the other crypto´s will go up, if bitcoin go down, the others go down.
So, there is no more Independence in the movements of most crypto´s. Maybe some (a 5%) go in their own, but most not. So, it is like buying bitcoins, because they have the same movements.
1. Why this has happened?
2. Why this has happened NOW (in the last 2 months)? Is there any reason?
3. Is it going to be this way forever?
Because if this is the case, then investing in any crypto is like investing in bitcoin, the movements will be (more or less) almost the same. No more +42% in a day for a new crypto, no more looking at
https://coinmarketcap.com/all/views/all/ and watch many different results during the day.
I think hedge funds are responsable for this. I might be wrong. What are your opinions?