ultra high correlation among altcoins

[Wind_Crypto]

have u ever noticed that on coinmarketcap, if u look at the 1hr price change, on certain days, and getting more frequent in fact, the changes are highly correlated?

If coins trend down, they tend to trend down TOGETHER, despite each coin's news/developments for that day. hence the term, sea of red. While I know this is common for more traditional asset classes such as equities too, i'm quite certain the correlation is not so direct.

Any views on this? mass bot manipulation by whales? high systemic risk cos ppl view crypto as a whole, given that's it's a whole new asset class exposed to the same set of risks?

[marks1976]

That's a bit strange because a coin gets a big update on the development progress still in the red area.

The price is correlated each other.

It just like this massive trend and the price generated by the trend of the crypto itself rather than development progress on every project.

all of them look the same.
A systemic correlation system between every whale.

[OriginTrain]

I've mentioned this before in various places. Never received a satisfactory explanation for it.

[Haley craft]

I don't know why.
But most of the altcoin will have a similar gains, if BTC in a relatively stable price, so they will gradually rise, this seems to be the rule of encryption in the cryptocurrency market.
So as long as bitcoin is on the rise,cryptocurrency market is a bull market.