Voorhees: Simple, straightforward. But two bubbles?

I always like Erik's take on things. Simple and no hype, which is good for me because most of this stuff is still above my pay grade! (But I'm learning!)
As a rookie, I hadn't really considered BTC and alt coins to be separate markets. Makes sense though. I'm wondering if most people use different "rules" for trading BTC opposed to alt coins or if they're treated the same as far as making decisions to buy/sell.