The cryptos are not the only things acting strangely - stocks, bonds, metals, currencies - all have gone walk-about... Something BIG is upon us, but I have no idea what. The dollar is dying and the Ruling Elite are having problems manipulating the markets as they have done for decades (centuries?)... Cryptos are a ray of hope in a bleak landscape for this old fool. Peace, All!
I think what might or not cause the divergence and to a large degree the end of bitcoin is the new FairX exchange that Stellar and IBM are opening together. This particular exchange will use Lumens to trade ANY crypto into ANY Fiat instantly worldwide, so now no one will need to go through bitcoin to trade any currencies. This is going to be very interesting.
Pretty much everything is moving in similar parallel with especially BTC and ETH, the 2 more mature in infrastructure (Gateways) into and out of fiat. Because Coinbase includes Bitcoin Cash and Litecoin, those 2 as well, but to a lesser degree. In fact that Gateway factor to me, along with the BTC foot into the door of Wall Street visa the options markets, as well as BTC being the primary trade base on the exchanges, are pretty much the only utility Bitcoin has left (given the 400 or 500 cost inflation of transaction fees the last 7 or 8 months) until the others can develop more gateway infrastructure.