Profrb got it.
Almost each person has its own explanation for bitcoin/altcoin movements. The only 99% valid theory here (until 2017) is that there are cycles of cryptocurrencies and they all follow each other movements (=they are all strongly correlated). Where Bitcoin as a leader has the smallest ups and downs (albeit very significant ones compared to fiat or stock market). Altcoins follow like a crazy tale of a dog.
This year (after halving that is the important trigger of upside movement) everything got even more crazy with the ICO avalanche that boosted ETH.
My estimation is that things are settling down and will be settled fully after Bitcoin hopefully adopts Segwit. That might cause one more significant upside movement for Bitcoin (and will be interesting to watch what altcoins will do: will they again follow btc or will they follow fundament and drop further, because bitcoin will be more usable for future? I do not know the answer here.).
edit: plus there was a closure of alphabay + suicide of the owner on 13th during the bearish phase
Last edited by Sherlock; 17 July 2017 at 9:41 am.
If you talk to God, you are praying; If God talks to you, you have schizophrenia.