I don't understand the logic behind alt's price movement. When Bitcoin falls, they fall with it.
But I feel like it should be the opposite. Like, when a hacker gets hold of a huge number of BTC, its value understandably crash, but alts also. Wouldn't the hacker want to buy the alts to diversify? So their value should go up, no?
Plus, of course, when BTC crashes, it takes less fiat to make their value go up. Many communities tied to altcoins don't keep most of their holdings in BTC, like that of Dogecoin, so BTC's dive should not affect them much.
Perhaps its simply because they both went into bubble mode together. Or perhaps there's no logic to it, just irrational market consensus
Anyone care to enlighten me?