The idea of BAT (Basic Attention Tokens) is stolen idea from Steem? - Why do the altcoins drop in price when Bitcoin goes up?

Altcoins are down today as Bitcoin gains some momentum.

You are feeling good your Steem tokens are up and things are good. That is what happened to me last night, and then I got a text from a friend "Bat is failing" There was a moment of panic but and I thought what did I do wrong? I am Sure Basic Attention Tokens were trending up as the novel idea of being paid to pay attention to the internet was a great idea. Why would a newly introduced coin drop in value? With out looking at the charts I knew, Bitcoin was going up.

Why does bitcoin go up and Altcoins go down? its just liquidity in the market flowing from one asset to another. We don't have to trade to another asset like the US Dollar to get from one asset to another. You maybe have seen this several times this year. When ever bitcoin is up altcoins go down. Its a ratio, between the to more so than cash flowing from one to another. This can also be seen on Monday or Tuesday as the banks open and process backed up orders from the weekend. As the order's are processed from USD to Bitcoin the value goes up.

Before institutional investors in bitcoin were on the scene this did not happen. bitcoin is not a 9-5 Monday to Friday gig. the digital currency market runs 24-7. If you had any doubts about the rumors of corporate money flowing into bitcoin doubt no longer. You can watch the charts over the last few weeks and see early i the week the overall market capitalization goes up and then flattens out over the weekend. The big push is on Monday mornings usually. As bitcoin goes up in price the ratio of bitcoins to other digital assets changes and leans in bitcoins favor, but as the week goes on the balance is restored.

BAT (basic Attention Tokens) is down today after last nights bitcoin push and Steem is up. When I first understood BAT I thought "what an original Idea" but now i realize it is not if you consider Steem. I wonder if they were influenced by the success of Steem? Sure they are different in the way they function but Steem is already functional and people are already using it. But being first does not mean you will be successful. Who knows maybe BAT and Steem will team up in the future and become interchangeable. I do not know, but do with both currencies all the best for now.

If you are worried about your temporarily devalued - don't - it will all come back to a balance soon. Bitcoin has to float over tot eh fiat island to load up on liquidity before floating back to alt island to spread the wealth. i am encouraged that Steem is up today, it show s that it is truly its own ecosystem and not so affected by bitcoin anymore.