Hi @cheizer,
Firstly there was a comparable post and my reply below:
Mostly this is true mainly because of the above and also the below:
for now, btc represents crypto. I say this from a world view not from a cardano enthousiast view. For now when 95% (just a estimated guess to make a point) of the world thinks about crypto they think bitcoin. The majority doesn’t even know what cardano is. Also for the same reason, most institutional money is into bitcoin not into cardano (yet). So when there is fear and bad news regarding bitcoin the general world view will be that not bitcoin but crypto is in trouble. In other words, since bitcoin is the most important for now and it might go down and get into trouble, why would alts not be in trouble? Since most alt investors are also aware of this, to preserve their investment they will also sell their alts. To summarize, in trading it is not about who is actually right but about what the majority thinks is right.
I think that the day an alt will have twice the market cap of bitcoin that the world view will change and for then that altcoin is the new representative of the crypto space. We all know that cardano will be taking that spot someday 