I'm seeing $5821 right now... what I don't get is how when BTC takes a precipitous drop like this the alts follow immediately. I can understand a drop within a day or two, but it almost seems that they're tied together.
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They are. Alts are priced in terms of bitcoin on most exchanges. That is why it is so important to get fiat pairs for altcoins, otherwise everything just moves with btc.
Well, that makes sense then!