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People may be selling out of their altcoins and trading it into bitcoin.

But I don't understand why people are buying bitcoin at high price and selling altcoins at lower prices ? Seems weird

New money entering the market for FOMO on Bitcoin causing BTC to rise at a faster rate than altcoins.

Buying low and selling high is what most new traders end up doing. Doesn't matter how many times we've all heard the exact opposite.