There seems to be a prominent belief that eth and ltc (and many others) are going up and down independently based on news/rumors. Yet the charts show them synced up with btc almost perfectly. Am I missing something or are people retarded?
Nope you're cool.
>>2828236
A hack in ether will cause all markets to fall, and ETH more so. People also need BTC to buy altcoins, and when they sell they have to sell for BTC and then sell the BTC for fiat. So the price of Bitcoin is intimately linked to the price of altcoins.
Also, traders look at the other crypto markets as a reference mark, especially looking at day-to-day or minute-to-minute trends. Because new news isn't happening every second, it's better to bet that a given crypto will follow the trend of other cryptos, rather than have it go off in a completely unique direction for no reason.
You need to change from USD to BTC on coinmarketcap I'm surprised how many people don't do this and measure their gains/losses through fiat on blockfolio.
>>2828236
no, you're just one of the few intelligent people on this board
most brainlets only follow the coin they're holding and are completely ignorant of bitcoin's sway over them during volatile periods, like watching shadows flicker on the wall in Plato's cave