First I need to make thing clear that I don’t consider Ethereum an altcoin. I’m also not saying that every crypto would be worthless. However, I often see people say something along the lines of, “Why does Bitcoin have to drag down all the alts when it dumps.” That’s because Bitcoin is dragging all of the altcoins up when it pumps.

There are many alts with ridiculous market caps (higher than those of major profitable company’s stocks) that are only where they are because we are in a Bitcoin bull cycle. That’s the reason why a lot of coins crash 90% in a bear market and never recover. It’s because they were being dragged up way over their fair value the whole time.

We are in a sort of “.com bubble” in crypto right now. We know that crypto is the future but not which projects will make it. I am only really sure in Bitcoin and Ethereum. Anyways just a thought I had, if you disagree feel free to drop a comment.

EDIT: typo

EDIT 2: Most people think I mean if Bitcoin was never invented. I mean if the market was exactly the same as it is today, but with Bitcoin missing or at near 0.