The crypto market is an unusual one. The Wild West atmosphere, the volatility, and the 24/7, 365 trading provides little rhyme or reason, and often times Bitcoin and altcoins rise together, while other times they do not.
At the start of the year, both Bitcoin and altcoins performed well relative to their bear market lows. Many altcoins doubled in value, until Bitcoin breached $4,200 and altcoins struggled to keep up ever since – bleeding out in their ratio relative to Bitcoin. The carnage continues, and as Bitcoin tests new 2019 highs, altcoins may be facing a major capitulation event if they fall any further than the bear market lows they had previously set.