If most or all alt coins are proof of stake how does the halving effect alts. Thats one thing i dont understand. Why if bitcoin goes crazy alts will to. Serious question here hahah
Discussion
Because of the people who believe bitcoin is one of the cryptos.
They believe and manifest an "altseason" under the belief it follows a bitcoin bull from the halving. So they sell winners and chase losers. The reality is that altcoins now are propped up in short waves from VC companies like a16z dumping on retail to fund their operations, and the occasional longer term dev teams trying to do layer 1 differently, but still centralized (e.g. Chia, Kaspa)