All cryptocurrencies are linked to Bitcoin or Ethereum. If you look at the charts of these two coins and see the timestamps as they go up and down, you will see they are identical. All altcoins follow these timestamps.
What people don't realize is that the entire cryptocurrency is controlled by whales (aka the Rich). About 28% of Bitcoin is controlled by 10 people. So when you see Bitcoin price surge, every altcoin follows. From minutes after the price increase to hours (when the price increases more), a large dump occurs when whales sell all the coins they originally bought.
It's a rinse and repeat scenario.
Another case of price manipulation is cryptocurrency bots, which buy and sell to artificially increase the price, to lure you into buying a specific coin. They are controlled by whales - people who ask social media influencers to pump these coins and eventually you will learn that the only people who get rich from crypto are the whales.
The only real way to get rich from crypto is to gamble with the coins in the first place. Another way is to have inside information when whales buy large quantities or make short sales. Every short sale is subject to capital gains tax, plus gas fees and any other fees. Long-term holdings will always be within whales' control.
