My thoughts for the moment (alts not joining this rally so I expect a dud):
Does anyone know the exact relationship between alt coins and bitcoin, except that bitcoin is the dog and altcoins are the tail? At the same time, alt coins can lead a rally or they can trail a rally or they might not come along because there is more froth in them, so I do not deny any relationship between alts and bitcoin, but I doubt that the mere fact that they are not coming along would preclude bitcoin from rallying and continuing to rally.
For other reasons, including the fact that we seem to be in a consolidation zone that might not be easy to break out of, I do agree with any assertion that BTC might not go directly up from here and break above $8,600, for example... so maybe now, our consolidation zone has moved to a range of $7,000 to $8,600, so accordingly, there would not be any reason to write home (or to get excited) about any movement within such current consolidation range.
Some do come along give me a little while i will update.
I doubt that there is any kind of lasting pattern, but I suppose that correlations can exist on a short-term basis - while the overall theory remains that a large majority of the value from the various alt coins is going to flow into bitcoin - even though some of the coins might be able to find persistent use cases (beyond pump and dump) to give them longer term value, but even then, it is likely that Bitcoin will absorb them too.... one of the problem of the relatively long phases of development and adoption is that it can take so long for the new use case or even building upon use case to play out, before it gets absorbed into bitcoin, and also a lot of us might be dead before we really witness any kind of meaningful consolidation into bitcoin - talking 40-50 years.. but surely in the mean time there are likely ways to profit from shorter term correlations that have existed and are likely to continue to exist, even if there may be some revolving door aspects regarding which coins are providing which values that might go beyond pure speculation.
This is how the market moved since beginning of year.
Some coins (i have no data but know) are well ahead, like 5 times up from beginning of year but with no volume.
Of the coins listed Eos, Stellar, Ethereum, Bitcoin and Ethereum classic are better as the market as a whole at this stage.
Stellar is on course to re-lease/sell about 1% of total coin this year, Eth ~5 and BTC over 3. actually:
https://i.imgur.com/RMgWIv5.pngIn midfield is Neo, Litecoin, Monero, Dogecoin, Namecoin, Peercoin all crammed togeter and also Bitcoin Cash
Namecoin, Peercoin just moving about and go nowhere still in the 1-2 dollar range after all the years.
Struggling is Cardano, Dash, Blackcoin (defibrillator got him back alive) ripple and nem
Unfortunate we lost Nano and Nxt
https://i.imgur.com/EznrMNm.jpg
Even though I appreciate that you attempted to lump coins based on recent market performance, I would rather see some other ways of categorizing them - because some of them are larger scams than others, and bitcoin does not fit in the scam department, so maybe a scam index would be more helpful, especially since we are in a bitcoin thread and we are attempting to figure out the extent to which any of the coins might affect BTC performance - in one direction or another. Furthermore, some of the market cap and even price performance based on manipulation of supply can be really misleading in terms of whether there is any substance at all to their placement on the market cap listing.
By the way, I saw that one of the ETF applications was requesting to be a top 10 cryptos ETF, and it seems that they were going to attempt to determine which coins to have in their multiple crypto ETF based on market cap.. what a BIG ass possible quagmire that would be difficult to understand if any ETF is going to be approved based on such a manipulatable index.
