What kind of magic is this?

[PickwickRock]

There are few factors that I think explains the recent events. But first, let me tell you, there is no relation between BTC and ETH price. Rather, people are converting from ETH to BTC right now as BTC price is rising again. So, less demand for ETH in market, lesser price.

[jasydoggye]

I think it’s not a magic because in this market price manipulates are occurring and other coin prices are depends on bitcoin. Because other coins are follows bitcoin strategy.

[AltcoinsBattle]

If you look at CMC https://coinmarketcap.com/charts/, you will see that there is a redistribution of funds from alkoins to BTC. In total capitalization, the share of BTC increases. The reason for this is unknown, and i will not invent it.

[LedrookETH]

I know what are you pointing at,  the bitcoin and altcoin both are now effecting each other if you analyzed the market carefully you will able to notice that if the bitcoin price goes up altcoin is also goes with it and if it goes down altcoin prices follow the Same path it is seems very unique to the users it doesn't normally happens

[Theyetion]

Every World event involves this more or less. This world cup is the reason behind I think which will continue for next Olympic too.

[Brequir]

Most of the coin value is rising with Bitcoin because Bitcoin is the number one, most popular crypto out there and almost all other follow Bitcoin.

[districtOx]

It’s like a trend that all other coins following Bitcoin. ETH isn’t following BTC because they are in separate blockchain.

Only when BTC Dominance go down we can see the growth of all other coins, as it was after the winter of 2017. Although, the story may not happen again...
You never know...You never know...

[OneyZ]

I think it’s nothing but a coincidence. Crypto market is unpredictable as always. This seems magic now. It is entirely possible that you’ll see otherwise in future.

[Tobt]

Yeah it’s true that most of the altcoins follow bitcoin but not many of them are used for betting. Where bitcoin is now one of the biggest way for laundering betting money. So this might be the reason behind the raise of bitcoin.

[rysheeer]

that's the way of detecting whether a token/coin is really decentralized because when the price of bitcoin goes down it shouldn't follow and it will make its own way to pump even though the market is so bloody.

[bttmember]

This is because the btc dominancy is increasing or we can say that flippening is going on or in simple words we can say that people are selling alts for btc because they think btc is soon going to moon that is why everyone wants btc now.

[cr1st0f]

In market there is always no logic, just people decide what will be red or green, so dont think too much and always be prepared to follow the flow.

[rugrats]

This is because the btc dominancy is increasing or we can say that flippening is going on or in simple words we can say that people are selling alts for btc because they think btc is soon going to moon that is why everyone wants btc now.

Yes, this is partly the reasons. If I may also add that the motive behind this movement in my opinion is also because of the good news BTC received with more companies expanding into the acceptance of BTC.

[rasp]

I've been monitoring the market for a couple of months now. Most of the coin value rely on the price of Bitcoin. If the BTC price goes up, every altcoins will follow and if it will goes down, the price of every altcoins will goes down as well. But the question is, Bitcoin price/value is still going up but the price/value of every altcoins especially Ethereum goes down. How did this happen? Any logical or scientific basis to explain this. As of now, I am still confuse. 

The answer is rather simple - everybody is waiting for the introduction of ETF (bitcoin-based exchange-traded fund) in mid-August.
The investors are steadily buying up bitcoins in order to be ready when it grows several times. It seems that demand exceeds supply, so the price is constantly going up.
ETF has nothing to do with Ethereum (and other altcoins), so what we can observe now is that btc has already gained around $1,000, but eth still costs $460-480.

[gaston castano]

I've been monitoring the market for a couple of months now. Most of the coin value rely on the price of Bitcoin. If the BTC price goes up, every altcoins will follow and if it will goes down, the price of every altcoins will goes down as well. But the question is, Bitcoin price/value is still going up but the price/value of every altcoins especially Ethereum goes down. How did this happen? Any logical or scientific basis to explain this. As of now, I am still confuse. 

The answer is rather simple - everybody is waiting for the introduction of ETF (bitcoin-based exchange-traded fund) in mid-August.
The investors are steadily buying up bitcoins in order to be ready when it grows several times. It seems that demand exceeds supply, so the price is constantly going up.
ETF has nothing to do with Ethereum (and other altcoins), so what we can observe now is that btc has already gained around $1,000, but eth still costs $460-480.

yes, in other words this eagerly anticipated ETF does greatly affect the value of bitcoin, but it actually weakens almost all altcoin prices, because most investors shift their investments to bitcoin

[grendel25]

I've been monitoring the market for a couple of months now. Most of the coin value rely on the price of Bitcoin. If the BTC price goes up, every altcoins will follow and if it will goes down, the price of every altcoins will goes down as well. But the question is, Bitcoin price/value is still going up but the price/value of every altcoins especially Ethereum goes down. How did this happen? Any logical or scientific basis to explain this. As of now, I am still confuse. 

This is the proverbial calm before the storm.  Anyone watching bitcoin markets for long enough knows there are cycles where bitcoin dominance waxes and wanes.  This doesn't necessarily mean that the value of bitcoin goes down when its market dominance goes down.  It just means that alt coins seize more market share.  With 2017 being the year of the ICO, anyone can look back to that point in time when Billions and Billions were flowing away from bitcoin and into ICO/ethereum.  Well, 2018 is the year of the masternode with ICO/ethereum also still holding some sway/clout... but mostly Masternodes.  So, we see the cycle repeating. This seems to happen in 3-6 month cycles and many people see the cycle shifting towards alt coins again.

If shared masternode platforms are reliable and take hold then it will have a dramatic impact because masternodes will be more attainable which again will have a positive affect on ALL cryptos... bitcoin and all alts.

[Theyetion]

Its world cup magic, lol. Bitcoin is widely used for betting purposes that’s why after the worldcup the price of Bitcoin is rising. Because a lots of money has entered in the market.

[fulmetal08larz]

Relax man, just be optimistic with your investments. What's currently happening is just temporary. Bitcoin may have the spotlight now, but, I still believe that season of the alts will come and you will be surprised how these people who bought BTC are shifting to alts to preserve and multiply their earnings. Most alts have a good project which has utilization in real world, but not all.

[Destroyeroff98]

I've been monitoring the market for a couple of months now. Most of the coin value rely on the price of Bitcoin. If the BTC price goes up, every altcoins will follow and if it will goes down, the price of every altcoins will goes down as well. But the question is, Bitcoin price/value is still going up but the price/value of every altcoins especially Ethereum goes down. How did this happen? Any logical or scientific basis to explain this. As of now, I am still confuse. 

All the same, these cryptocurrencies have different technologies. And now Bitcoin is more popular.

[9jaflick]

I've been monitoring the market for a couple of months now. Most of the coin value rely on the price of Bitcoin. If the BTC price goes up, every altcoins will follow and if it will goes down, the price of every altcoins will goes down as well. But the question is, Bitcoin price/value is still going up but the price/value of every altcoins especially Ethereum goes down. How did this happen? Any logical or scientific basis to explain this. As of now, I am still confuse. 

The reason why altcoins price are with bitcoin rise is because of the rise on the satoshi price, if a Coin is been sold at 100satoshi when bitcoin $6000, and now that same coin is still been sold @ 100satoshi now that bitcoin is $7.7k+, automatically that altcoin USD value will increase.
But currently altcoins are suffering with the rise of bitcoin!