Altcoins need not really follow every move of Bitcoin if users only knew this.
Why would altcoins with better technology and solution than Bitcoin need to follow the latter? I believe that it's time for altcoins to decouple from Bitcoin and create their own path.
However, there are three main hindrance to this. First is the belief that Bitcoin dictates the move of the whole crypto market. It is hard to get rid of the first-mover advantage in the crypto space even though the one which moved first currently has a bit of outdated solutions.
Second is that the majority of the medium and small holders of Bitcoin also hold altcoins. This is corollary to the first factor which also result to the same response. Whenever users, especially the new ones, see that Bitcoin is on red, their immediate response is to sell their Bitcoin as well as their altcoin holdings.
Lastly is that users think and use of the whole crypto assets merely as assets for trading. Users tend to forget that crypto are not just assets but also technology and not just technology but one that is revolutionary. This is the reason why a lot of cryptos which has greater technology are undervalued.
(This does not contain any financial or investment advice. First and foremost, I am not a financial or investment advisor. This contains my opinion or ideas on the current news within the crypto space or even those outside of it but may directly affect the crypto space. Image used owned by Alok Sharma.)
