Yes, but the coins with less participation require less power to compete. To make a market argument that there is an equilibrium of players across all coins, implies there are actual individuals finding opportunities and switching coins when they get out of sync.
No. all coins do not have equal mining participation.
I think the comment you replied to meant that the other coins are also dropping in price, when bitcoin drops.
Yes, but the coins with less participation require less power to compete. To make a market argument that there is an equilibrium of players across all coins, implies there are actual individuals finding opportunities and switching coins when they get out of sync.
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