When the Bitcoin price saw new heights in October and November, all alt-coins were pushed down because of a massive escape from alt-coins into Bitcoin. The market is very new and the traders have clearly not standardized their trading habit (trades are all over the place with little reasoning behind). One should have thought that when Bitcoin climbed, alt-coins should have followed the increase, at least to a certain level. However, most Alt-Coins either held their USD value or even fell compared to their original USD value before the rise of Bitcoin. This does not make any sense, as the cryptocurrency world has just started and most alt-coins have a very bright future.
We believe that the trades that happened were emotional trades limited to: fear.
Read the full story here:
http://www.cryptocoinsnews.com/2013/11/22/alt-coins-holding-now-climbing-bitcoin/Most have a bright future? Most are clones of bitcoin but have less network security. The values have been absolutely destroyed recently too, maybe they kept their dollar value, but bitcoin has quintupled in value and everyone buys altcoins with bitcoins...
