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RE: Crypto News: The Market Cap's Back Baby! Over $500 Billion!
I think the altcoins have a direct correlation with bitcoin due to the fact that most altcoin purchases require bitcoin - therefore bitcoin should recover alongside the derserving altcoins.
That is an interesting theory. I've seen it go many ways. I've seen BTC run on ALTs and I've seen it the other way around. Sometimes they both go up together and on a downtrend ALTs seem to dump much faster...
That makes sense because in a broad sell off altcoins are seen as riskier assets to hold given their smaller share of market compared to BTC and also most people receive BTC when selling their alts, providing relative demand for BTC.