The market cap of the altcoin are almost near equivalent to the market cap of bitcoin.
This is basic economics, people are cashing out altcoins for bitcoins however, the supply and demand curve is intensifying. Bitcoins circulating value has been reduced, therefore for altcoin owners to cashout they will need Bitcoin or USD Tether to do so.
This will cause owners of Bitcoin to Raise the number of altcoins needed to satisfy the trade, this in turn is devaluing these altcoins.
USDT has also taken a hit because people really don't want this stuff it is more like a value-peg a tool to hold Bitcoin's real world value at a certain price incase the market falls so a buy back can be done.
Bitcoin's price could go up dramatically when the market cap of the altcoins becomes less once more and holders of bitcoin starts to demand more coins to satisfy trade.
Altcoins are having major cashout as people are waking up to legitimacy issues. "which is good, More people are learning to read : ) yay!!!" Yeah scam coins exist and they look so legit the only way to know is to read.
With the rise of bitcoin you should beware of the price of altcoin "litecoin" as the only future it has is a corporate pump and dump. " real companies will accept this coin which drive up the price then they will dump it back on you to figure it out on your own."
My Thoughts; If you don't read your coins white paper you'll probably end up trying to hype it up on YouTube like they other morons that bought scam coins that they now need to get rid of.
Any Thought? feel free to comment
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